What's Going On With Core Scientific Stock Today?
Portfolio Pulse from Adam Eckert
Core Scientific Inc (NASDAQ:CORZ) shares are trading higher after CoreWeave exercised the final option of a hosting contract, adding $2 billion in projected revenue. This positions Core Scientific to provide 500 MW of IT load for HPC infrastructure by 2026.
October 22, 2024 | 2:19 pm
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POSITIVE IMPACT
Core Scientific's stock is up as CoreWeave exercised the final option of a hosting contract, adding $2 billion in projected revenue. This enhances Core Scientific's capacity to provide 500 MW of IT load for HPC infrastructure by 2026.
The exercise of the final option by CoreWeave in the hosting contract significantly increases Core Scientific's projected revenue by $2 billion, enhancing its infrastructure capacity. This positive development is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100