Core Scientific partners with AMD for 500 MW AI data center deal, gets warrants for 30 million CORZ shares

Core Scientific just landed the kind of deal that makes its Bitcoin mining origins feel like a past life. The company announced a strategic partnership with AMD that gives the chipmaker immediate access to more than 500 megawatts of AI-ready data center capacity starting in 2027, with room to scale that commitment to a staggering 2.5 gigawatts. As part of the arrangement, AMD received warrants for up to 30 million shares of CORZ stock at an exercise price of $23.47 per share. Those warrants vest based on actual megawatts contracted, meaning AMD has to put real capacity commitments on the table before it can cash in. From hash rates to GPU racks The company’s Q2 2026 earnings tell the story in stark numbers. Colocation revenue hit $136.7 million for the quarter, nearly doubling the $77.5 million it posted in Q1 2026. That colocation business now represents roughly 77% of Core Scientific’s total revenue of $164.2 million, a ratio that would have been unthinkable when the company was primarily known for mining Bitcoin. By mid-July 2026, Core Scientific’s billing capacity had reached 437 MW. The AMD deal essentially promises to more than double that footprint in the near term, with lon...