Shares of Core Scientific, Inc. (CORZZ) jumped nearly 20% after the company announced the signing of a series of 12-year contracts with CoreWeave, the AI Hyperscaler.
CORZZ is currently trading at $4.3900, up $0.7100 or 19.2935%, on the Nasdaq. The stock opened its trading at $4.2500 after closing Monday at $3.6800. The stock has traded between $3.9317 and $4.4500 in the past 52-week period.
Under the terms of the agreements, Core Scientific will deliver approximately 200 megawatts of infrastructure to host CoreWeave's high-performance compute operations.
Core Scientific will modify multiple existing, owned sites to host CoreWeave's NVIDIA GPUs. The site modifications are expected to commence early in the second half of 2024 and achieve operational status in the first half of 2025.
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