Core Scientific (CORZ) Stock Rises on $14 Billion AMD Partnership

TLDR

• Core Scientific stock rose 4.7% in premarket trading after announcing a major partnership with AMD
• AMD secured more than 500 megawatts of data center capacity starting in 2027, expandable to 2.5 gigawatts
• The deal is anchored by 15-year agreements worth more than $14 billion in potential base contracted revenue
• Core Scientific posted a Q2 loss of $3.32 per share, wider than the 6-cent loss Wall Street expected, but revenue beat at $164.2 million vs. $144.8 million expected
• AMD will receive market-priced warrants to purchase Core Scientific stock as part of the deal

Core Scientific stock jumped 4.7% to $21.78 in premarket trading on Tuesday after the company announced a long-term data center partnership with AMD worth more than $14 billion in potential contracted revenue.

Core Scientific, Inc., CORZ

The move came after the stock ended Monday down 8.8%, sitting at $20.80.

AMD’s stock didn’t fare as well. It fell 4.6% to $472 in premarket trading, continuing a broader chipmaker selloff.

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