Jefferies has initiated coverage of Bitcoin miner Core Scientific Inc. (CORZ) with a ‘Buy’ rating, citing the company’s potential to capitalize on the growing demand for artificial intelligence (AI). The firm highlighted Core Scientific’s robust power supply, data center development team, and a 12-year contract with Nvidia-backed cloud provider CoreWeave as key strengths.
Top Wall Street analysts have initiated coverage on several companies, issuing Buy ratings and setting price targets. Coinbase, StandardAero, Ceragon Networks, Serve Robotics, and Core Scientific are among the companies attracting investor attention. Find out why these analysts are bullish on these stocks and what their price targets are.
Core Scientific Inc (CORZ) saw its shares rise after announcing that CoreWeave, an AI hyperscaler, exercised its final option for a 200 megawatt (MW) hosting contract. This move will see Core Scientific expand its infrastructure to deliver an additional 120 MW of IT load, hosting CoreWeave’s Nvidia GPUs. The expansion is expected to significantly boost Core Scientific’s revenue and position it as a leading data center player in the rapidly growing high-performance computing (HPC) market.
Core Scientific, a leading Bitcoin mining company, has rebounded from bankruptcy in 2022, fueled by Bitcoin’s price recovery and a strategic pivot to high-performance computing (HPC) for artificial intelligence applications. The company is now positioned as a major player in the U.S. data center market, leveraging its expertise and infrastructure to serve growing AI demands.
Shares of Core Scientific, a Bitcoin mining company, jumped over 20% in the past week, driven by anticipation of a Federal Reserve interest rate cut and the company’s ambitious AI data center expansion plans. The Fed’s decision to lower rates, boosting risk assets like stocks and cryptocurrencies, further fueled the rally.
Core Scientific, a leading bitcoin mining and hosting company, announced a decrease in self-mined bitcoin during August due to operational changes and increased network difficulty. The company is actively preparing its facilities for high-performance computing (HPC) contracts and optimizing its bitcoin mining operations.
In a recent episode of CNBC’s ‘Mad Money Lightning Round,’ Jim Cramer shared his thoughts on several stocks, including Ally Financial, Snowflake, Royalty Pharma, and Core Scientific. Cramer recommended buying Ally Financial but was hesitant on Snowflake due to recent downgrades. He expressed disappointment with Royalty Pharma’s performance and labeled Core Scientific as overvalued.
Core Scientific Inc. (CORZ) shares declined on Tuesday after the company announced a proposed offering of $350 million in convertible senior notes. The company plans to use the proceeds to repay outstanding loans and redeem its senior secured notes due in 2028. This move comes as Core Scientific faces financial pressure in the cryptocurrency mining industry.
