Core Scientific, Inc. (CORZ) shares surged 14.17% in the pre-market trading session on Thursday, driven by the company's announcement of a $1.2 billion expansion deal with AI Hyperscaler CoreWeave.
Under the agreement, Core Scientific will expand its data center operations in Denton, Texas, to support CoreWeave's growing computational needs fueled by the rapid growth of artificial intelligence and related technologies. This significant expansion solidifies Core Scientific's position as a leading provider of blockchain infrastructure and AI computing solutions, underscoring its capabilities and the confidence in its services.
The substantial expansion deal, coupled with the increasing demand for high-performance computing power, has bolstered Core Scientific's outlook and contributed to the substantial stock price surge. Investors appear optimistic about the company's prospects and potential for growth in the AI and blockchain sectors, which are expected to drive continued demand for its services.
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