## Core Scientific’s Stock Soars as CoreWeave Exercises Final Option for Hosting Contract
Shares of Core Scientific Inc (CORZ) saw a significant boost after the company announced that AI hyperscaler CoreWeave exercised its final option for a 200 megawatt (MW) hosting contract. This decision marks a major milestone in the ongoing partnership between the two companies, solidifying Core Scientific’s position as a leading player in the rapidly growing high-performance computing (HPC) market.
The deal, initially announced in June, will see Core Scientific expand its infrastructure to deliver an additional 120 MW of IT load, dedicated to hosting CoreWeave’s Nvidia GPUs. This expansion will require significant modifications to one of Core Scientific’s existing data centers, with work expected to begin in the second half of 2025 and the site becoming operational in the second half of 2026.
The financial implications of this move are substantial. The original contract was projected to bring in $6.7 billion in cumulative revenue over a 12-year period. With this new option exercised, Core Scientific anticipates an additional $2 billion in revenue, bringing the total projected revenue to $8.7 billion. It’s important to note that all modifications to Core Scientific’s infrastructure will be funded by CoreWeave.
The expansion signals a strong vote of confidence in Core Scientific’s capabilities. Adam Sullivan, CEO of Core Scientific, stated, “There is significant demand for infrastructure to support next-generation compute workloads. Our contracts with CoreWeave represent the foundation for Core Scientific’s evolution into a leading data center business ideally positioned to meet that demand.” By the second half of 2026, Core Scientific plans to provide approximately 500 MW of IT load for HPC infrastructure to CoreWeave, further cementing its role in the booming HPC sector.
This move highlights the growing importance of data centers and the crucial role they play in supporting the increasing demand for artificial intelligence and high-performance computing applications. As the world continues to rely on advanced technologies, companies like Core Scientific are poised to capitalize on this trend, providing the essential infrastructure needed to power the future of computing.