Core Scientific Soars as AMD Partnership Sets Stage for AI Growth

Core Scientific's (CORZ) stock has gained in pre-market trade following price target hikes from analysts Needham and Canaccord. The company announced a partnership with Advanced Micro Devices (AMD), where AMD will lease more than 500 megawatts of data center capacity from Core Scientific beginning in 2027, with an option to expand to 2.5 gigawatts.

Needham called the AMD agreement a 'large quality lease' and said recent share weakness reflected broader AI infrastructure selling. Canaccord said the deal validates Core Scientific's AI strategy after the company ended exclusive talks with another hyperscaler earlier this year.

The companies will also collaborate on deploying AMD's Instinct GPUs, EPYC CPUs, and ROCm software across Core Scientific's AI-ready facilities. This represents another step in Core Scientific's transformation from a cryptocurrency miner into an AI infrastructure provider.