Core Scientific shares climb 12% after CoreWeave expands GPU hosting deal
Core Scientific will add 112 megawatts for CoreWeave’s GPUs and projects $2 billion in additional revenue from the 12-year hosting agreement.
Core Scientific’s stock (CORZ) jumped over 12% in the first hours of trading on Aug. 6, following the expansion of a billion-dollar deal with artificial intelligence cloud provider CoreWaeve.
CoreWaeve is increasing its hosting deal with Core Scientific, seeking additional resources for its Nvidia graphics processing units (GPUs). According to an announcement on Aug. 6, Bitcoin (BTC) miner Core Scientific will modify its infrastructure to supply approximately 112 incremental megawatts to CoreWeave’s GPUs.
Core’s shares are up 12.1% at the time of writing, trading at $9.22 on the Nasdaq. The company projects to generate about $2 billion in additional revenue from the 12-year hosting agreement with the AI company.
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Author: Ana Paula Pereira
