Core Scientific ties its AI pivot to AMD in multi-gigawatt infrastructure deal

Core Scientific and AMD have agreed on a partnership under which the chipmaker will secure more than 500 megawatts of U.S. data-center capacity starting in 2027, with the ability to scale up to 2.5 gigawatts, the companies announced Tuesday.

The agreement covers collaboration on physical infrastructure design and the deployment of AMD Instinct GPUs, EPYC CPUs and ROCm software to support AI workloads for cloud providers, enterprises and model builders, Core Scientific's statement said.

AMD will also receive market-priced warrants to purchase Core Scientific common stock (CORZ), subject to certain commercial conditions.

The arrangement widens Core Scientific's shift from bitcoin mining toward high-density colocation for AI, a transition the company has accelerated through 2026. The company stated in March it would monetize substantially all of its bitcoin holdings this year to fund the buildout, booking the majority of those sales in the first quarter.

AMD's chief strategy officer of corporate development, Mathew Hein, said access to power, land and infrastructure has become critical to bringing new AI compute online. "Core Scientific's extensive portfolio of AI-ready data centers expands access to the infrastructure our customers need to deploy AMD AI solutions at scale," he said.

Core Scientific CEO Adam Sullivan pointed to the company's execution record as the basis for the tie-up.

"Our proven execution capabilities and ability to deliver high-density infrastructure at scale position us to support AMD's technology roadmap," Sullivan said.

The AMD agreement joins a customer roster led by AI hyperscaler CoreWeave, whose contracts Bernstein analysts recently singled out for a 75% five-year average return on assets — returns the firm said are not a realistic template for most bitcoin miners attempting the same pivot.

Core Scientific operates data centers across Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma and Texas, and has been repurposing its remaining mining sites for colocation as conditions allow.

The company has not disclosed an AMD-specific revenue figure tied to the partnership.

CORZ shares rose roughly 3% in pre-market following the announcement, according to The Block's stock price page.