Core Scientific Aims For $25-$30 Billion Valuation With AI Data Center Services: Bernstein
Portfolio Pulse from Khyathi Dalal
Core Scientific (NASDAQ:CORZ) is expanding its AI data center services, aiming for a $25-$30 billion valuation. The company has secured significant contracts, including a $3.5 billion deal with CoreWeave, and is focusing on AI infrastructure to offset declining Bitcoin mining revenues.
September 10, 2024 | 5:16 pm
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Core Scientific is pivoting from Bitcoin mining to AI data centers, aiming for a $25-$30 billion valuation. The company has secured a $3.5 billion contract with CoreWeave and is focusing on AI infrastructure to boost revenues.
Core Scientific's strategic shift to AI data centers is a significant move to enhance its valuation and revenue streams. The $3.5 billion contract with CoreWeave and the focus on AI infrastructure are likely to positively impact its stock price in the short term.
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