Core Scientific, Inc. (CORZ) shares surged 14.67% in the 24-hour trading session on Thursday, fueled by the company's announcement of a $1.2 billion expansion deal with AI Hyperscaler CoreWeave.
The agreement will see Core Scientific expand its data center operations in Denton, Texas, to support CoreWeave's growing computational needs driven by the rapid growth of artificial intelligence and related technologies. This move 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 significant 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.
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