BUZZ-Core Scientific rises after securing additional data center contract

Reuters
2024-10-22

** Shares of bitcoin miner and data center operator Core Scientific rise 4.4% to $13.35 premarket

** AI startup CoreWeave exercises contract option for delivery of nearly 120 megawatt (MW) of additional digital infrastructure to host high-performance computing $(HPC.AU)$ operations - CORZ

** CORZ expects new contract to add about $2 bln in cumulative revenue over the 12 year contract

** AI boom has created significant demand for infrastructure to support compute workloads

** New contract expands total HPC infrastructure contracted by CoreWeave from CORZ to 500 MW

** CORZ says pursuing expansions to existing data centers and evaluating additional sites to expand HPC hosting capacity

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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