CORZ Stock Soars on AMD Partnership and Strong Q2 Results

Core Scientific's (CORZ) stock price surged by 10.5% on August 3, 2026, driven by a strategic partnership with AMD and strong second-quarter results. The company announced a long-term agreement with AMD to provide more than 500 megawatts of U.S. capacity starting in 2027, with the potential to scale up to 2.5 gigawatts.

The partnership includes 15-year agreements covering about 530 megawatts across five sites, with over $14 billion of potential base contracted revenue. This move is seen as a significant shift for Core Scientific, which has been expanding its focus from bitcoin mining to AI-focused data center capacity and longer-term contracted revenue.

Core Scientific's second-quarter results showed total revenue of $164.2 million, up from $78.6 million in the same period last year, while colocation revenue climbed to $136.7 million from $10.6 million. The company also reported an increase in total leased customer power capacity to about 1.1 gigawatts, representing more than $24 billion of potential contracted revenue.