NasdaqGS:CORZSoftware
Core Scientific Loan Fuels Risky Shift Toward AI And HPC Revenues
Core Scientific (NasdaqGS:CORZ) has secured a $500 million loan facility from Morgan Stanley.
The facility is intended to support the company’s shift from Bitcoin mining to AI and high performance computing data center services.
The financing has the potential to increase to $1 billion, expanding available capital for data center development.
Core Scientific, trading at $14.86, is using this new funding to support a clear change in its business model. The stock has seen a 91.0% return over...