CORZ Shares Rise on AMD Partnership

Core Scientific (CORZ) shares rose in pre-market trade after analysts increased their price targets following the company's AI infrastructure partnership with Advanced Micro Devices (AMD).

The AMD deal marks a significant milestone for Core Scientific as it transitions from a cryptocurrency miner to an AI infrastructure provider. The agreement involves leasing more than 500 megawatts of data center capacity from Core Scientific beginning in 2027, with an option to expand to 2.5 gigawatts.

Analysts at Needham and Canaccord raised their price targets on Core Scientific to $35 and $36 respectively, maintaining a 'Buy' rating for the stock.