Core Scientific Q2 Earnings Call Highlights

1 month ago 17

MarketBeat

Tue, July 28, 2026 astatine 9:04 AM CDT 7 min read

Key Points

Interested successful Core Scientific, Inc.? Here are 5 stocks we similar better.
Core Scientific announced a commercialized concern with AMD covering up to 2.5 gigawatts of data-center capacity, opening with astir 530 megawatts crossed 5 campuses nether 15-year agreements. The archetypal contracts correspond much than $14 cardinal successful basal contracted revenue, raising full contracted gross to implicit $24 billion.
AMD volition person astir 380 megawatts done nonstop triple-net leases, portion different 150 megawatts volition enactment an unnamed Neocloud lawsuit with AMD recognition backing. AMD besides holds conditional preservation rights for an further 2 gigawatts of capacity.
Core Scientific is accelerating operation portion transitioning distant from Bitcoin mining: 437 megawatts are already billing, AMD deliveries are expected to statesman successful the archetypal fractional of 2027, and the archetypal AMD build-out is estimated to necessitate astir $6 billion, financed chiefly done project-level bonds.

Texas Power Play: Hut 8 Sparks a $9.8B AI Infrastructure Deal

Core Scientific (NASDAQ:CORZ) said it has entered a commercialized concern with AMD covering up to 2.5 gigawatts of information halfway capacity, opening with astir 530 megawatts crossed 5 campuses nether 15-year agreements.

Chief Executive Officer Adam Sullivan said the archetypal agreements correspond much than $14 cardinal of basal contracted gross and see 2.5% yearly escalators. The institution present has astir 1.1 gigawatts of full contracted billable capacity, representing much than $24 cardinal of basal contracted revenue, according to management.

→ Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit

How TeraWulf's Anthropic Deal Booted Up a $19B AI Empire

The AMD committedness includes astir 380 megawatts delivered straight to AMD done triple-net leases astatine Core Scientific's Pecos, Hunt and Muskogee sites. The remaining astir 150 megawatts astatine the Auburn and Dalton campuses volition enactment an unnamed Neocloud lawsuit done modified gross leases, with AMD providing afloat recognition enactment for the 15-year terms.

Sullivan said the AMD recognition enactment arrangements bash not see equity step-in rights, which helium said protects Core Scientific's equity investments successful the projects. The institution besides issued AMD a warrant with a onslaught terms reflecting existent marketplace levels, taxable to definite commercialized conditions.