Core Scientific Secures $1.225B Revenue Boost from CoreWeave's HPC Hosting Contract
Portfolio Pulse from Benzinga Newsdesk
Core Scientific (NASDAQ: CORZ) has secured a $1.225 billion revenue boost from CoreWeave's HPC hosting contract. The agreement involves modifying 100 MW of Core Scientific's infrastructure to host CoreWeave's NVIDIA GPUs, with operations expected to begin in the second half of 2025. This contract will enhance Core Scientific's earnings and shareholder value.
June 25, 2024 | 11:12 am
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Core Scientific has secured a $1.225 billion revenue boost from CoreWeave's HPC hosting contract. The contract involves modifying 100 MW of infrastructure to host CoreWeave's NVIDIA GPUs, with operations expected to begin in the second half of 2025. This will enhance Core Scientific's earnings and shareholder value.
The $1.225 billion revenue boost from the new HPC hosting contract with CoreWeave significantly enhances Core Scientific's earnings potential and shareholder value. The contract's long-term nature and the expected operational status in the second half of 2025 provide a clear timeline for investors. The company's ability to secure such a substantial contract and its strategic positioning in the AI and HPC market are positive indicators for its stock price.
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