Core Scientific, Inc. (CORZ) shares surged 12.77% in the after-hours trading session on Wednesday, following the announcement of a significant expansion deal with AI Hyperscaler CoreWeave.
The $1.2 billion agreement will see Core Scientific expand its data center operations in Denton, Texas, to support CoreWeave's growing computational needs. This move highlights the increasing demand for high-performance computing power driven by the rapid growth of artificial intelligence and related technologies.
With this expansion, Core Scientific strengthens its position as a leading provider of blockchain infrastructure and AI computing solutions. The company's ability to secure such a substantial deal with a major player like CoreWeave underscores its capabilities and the confidence in its services.
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