Why Core Scientific Shares Are Up
Portfolio Pulse from Erica Kollmann
Core Scientific, Inc. (NASDAQ:CORZ) shares surged after announcing 12-year contracts with CoreWeave to deliver 200 MW of infrastructure for HPC operations. The project is expected to generate over $3.5 billion in revenue. Site modifications will start in the second half of 2024 and become operational in the first half of 2025.
June 04, 2024 | 3:00 pm
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Core Scientific shares rose significantly after announcing long-term contracts with CoreWeave, expected to generate substantial revenue. The project will enhance Core Scientific's hosting business and earnings potential.
The announcement of significant long-term contracts with CoreWeave, expected to generate substantial revenue, has positively impacted Core Scientific's stock price. The project will enhance the company's hosting business and earnings potential, making it a bullish signal for investors.
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