Core Scientific is accelerating its transformation from a Bitcoin mining company into an artificial intelligence infrastructure provider after signing a major agreement with AMD. The partnership will provide up to 2.5 gigawatts (GW) of data center capacity for AI deployments beginning in 2027.
Despite the announcement, investors reacted cautiously. Core Scientific’s stock (NASDAQ: CORZ) initially climbed in premarket trading before reversing course, ending the day more than 4% lower as broader market weakness and concerns over execution weighed on sentiment.
AMD secures large-scale AI infrastructure
Under the agreement, Core Scientific will provide AMD with access to up to 2.5 GW of data center capacity to support customers deploying AMD’s artificial intelligence hardware.
The companies also plan to collaborate on designing infrastructure optimized for high-density AI workloads.
Future deployments will utilize AMD’s:
- Instinct AI GPUs
- EPYC processors
- ROCm software platform
While the companies did not disclose the financial value of the partnership or identify the customers expected to use the facilities, the agreement marks one of Core Scientific’s largest AI infrastructure commitments to date.
Partnership expands beyond hardware
Unlike a traditional hardware supply agreement, this partnership combines AMD’s AI computing technology with Core Scientific’s large-scale power infrastructure and data center operations.
As demand for AI computing continues to rise, access to facilities with substantial electrical capacity has become increasingly valuable.
The deal positions AMD as both a technology partner and a potential long-term customer while helping Core Scientific monetize infrastructure originally built for cryptocurrency mining.
AMD receives stock warrants
As part of the agreement, AMD will receive market-priced warrants that could allow it to purchase shares of Core Scientific under certain commercial conditions.
The companies have not disclosed:
- The number of shares covered
- The potential ownership stake
- The conditions required for exercising the warrants
If exercised in the future, the warrants could increase the total number of outstanding shares, creating potential dilution for existing shareholders.
Core Scientific continues AI transition
Core Scientific has steadily shifted its business away from relying solely on Bitcoin mining.
Earlier this year, the company sold 2,385 Bitcoin to strengthen liquidity while investing in AI infrastructure.
According to recent data, Core Scientific still holds approximately 848 BTC, while continuing to generate revenue from both self-mining and hosting services for other cryptocurrency miners.
Increasingly, however, the company’s long-term strategy centers on converting former mining facilities into high-density AI data centers.
Bitcoin miners embrace AI opportunities
Core Scientific is not alone in making this transition.
Several publicly traded Bitcoin miners are expanding into AI infrastructure as demand for computing power accelerates.
Recent industry developments include:
- MARA expanding its AI operations through a Texas acquisition.
- TeraWulf signing a long-term AI data center agreement with Anthropic.
- Hut 8 securing a $9.8 billion 15-year AI lease.
- IREN announcing approximately $2.8 billion in multi-year AI cloud contracts.
These companies are leveraging their existing access to power infrastructure to attract cloud providers and AI developers.
CORZ stock gives up early gains
Investors initially welcomed the AMD announcement.
Core Scientific shares rose more than 5% during premarket trading before reversing sharply after the market opened.
The stock ultimately fell more than 4%, extending its weekly decline to over 12%.
Even with the recent pullback, CORZ remains more than 40% higher since the beginning of 2026, reflecting investor optimism surrounding the company’s shift toward AI infrastructure.
Investors await more financial details
While the agreement strengthens Core Scientific’s long-term growth strategy, several important questions remain unanswered.
The companies have not yet disclosed:
- Expected revenue from the partnership
- Construction and deployment costs
- Customer commitments
- Project rollout timeline
- Full warrant terms
These details will likely play an important role in determining how quickly the partnership contributes to earnings.
Outlook
Core Scientific’s agreement with AMD represents another major milestone in the growing convergence between cryptocurrency infrastructure and artificial intelligence.
By repurposing its large-scale mining facilities for AI computing, the company is positioning itself to benefit from rising demand for high-performance data centers.
However, investors will closely monitor execution over the next several years. Successfully delivering 2.5 GW of AI capacity on schedule—and doing so profitably—will be critical to determining whether Core Scientific’s transition from Bitcoin mining to AI infrastructure ultimately delivers long-term shareholder value.
