TLDR
- Core Scientific stock rose 4.7% in premarket trading after announcing a major partnership with AMD
- AMD secured more than 500 megawatts of data center capacity starting in 2027, expandable to 2.5 gigawatts
- The deal is anchored by 15-year agreements worth more than $14 billion in potential base contracted revenue
- Core Scientific posted a Q2 loss of $3.32 per share, wider than the 6-cent loss Wall Street expected, but revenue beat at $164.2 million vs. $144.8 million expected
- AMD will receive market-priced warrants to purchase Core Scientific stock as part of the deal
Core Scientific stock jumped 4.7% to $21.78 in premarket trading on Tuesday after the company announced a long-term data center partnership with AMD worth more than $14 billion in potential contracted revenue.
The move came after the stock ended Monday down 8.8%, sitting at $20.80.
AMD’s stock didn’t fare as well. It fell 4.6% to $472 in premarket trading, continuing a broader chipmaker selloff.
Core Scientific $CORZ and $AMD have signed an AI infrastructure agreement giving AMD access to more than 500 MW of U.S. data center capacity beginning in 2027.
AMD has the option to expand the capacity to 2.5 GW. The companies will collaborate on infrastructure for AMD Instinct… pic.twitter.com/Lezg1hTh2p
— Wall St Engine (@wallstengine) July 28, 2026
Core Scientific reported Q2 earnings early Tuesday. The loss came in at $3.32 per share, well wider than both the year-ago loss of 4 cents and Wall Street’s estimate of a 6-cent loss.
Revenue told a different story. It came in at $164.2 million, up 109% year over year and ahead of the analyst consensus of $144.8 million, according to FactSet.
But investors were mostly focused on the AMD deal.
AMD secured more than 500 megawatts of Core Scientific’s data center capacity starting in 2027. The deal includes the option to expand up to 2.5 gigawatts to support AMD’s AI solutions.
What the Deal Includes
The partnership covers more than just capacity. Core Scientific and AMD will also work together on physical infrastructure design and the deployment of AMD’s GPUs, CPUs, and software layers.
The deal is anchored by 15-year agreements across five sites, totaling around 530 megawatts. That underpins the $14 billion-plus in potential base contracted revenue figure.
As part of the arrangement, AMD will receive market-priced warrants to buy Core Scientific common stock, subject to certain commercial conditions. Financial terms of the deal were not disclosed beyond that.
Mathew Hein, AMD’s chief strategy officer of corporate development, said the partnership helps “model builders, cloud providers and enterprises accelerate AI adoption while strengthening the AMD ecosystem.”
Core Scientific’s Shift Toward AI
Core Scientific has been moving away from crypto mining and toward hosting AI and high-performance computing workloads. This deal marks a further step in that direction.
Demand for electricity, land, and data center space has surged as cloud providers and enterprises pour money into AI infrastructure. Core Scientific is positioning itself to meet that demand.
The company’s portfolio of AI-ready data centers was cited by AMD as a key reason for the partnership, giving AMD’s customers a place to deploy AI systems at scale.
The 15-year contract length and the option to scale to 2.5 gigawatts suggest this is a long-term commitment from both sides.
Core Scientific stock closed Monday at $20.80 before the premarket jump following the deal announcement.
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