Core Scientific Secures Up to $1 Billion From Morgan Stanley for Pivot From Bitcoin Mining to AI [Yahoo! Finance]
Core Scientific, Inc. (CORZ)
Company Research
Source: Yahoo! Finance
Core Scientific's efforts to pivot away from Bitcoin mining are getting a boost from Morgan Stanley, with the company securing up to $1 billion in financing from the bank. The Austin, Texas-based firm signaled in a press release on Thursday that the Wall Street giant had given it permission to borrow up to $500 million under an initial agreement, as it increasingly leans toward providing infrastructure for high-density colocation. The agreement is structured in a way that could allow Core to borrow an additional $500 million, providing the company with funds that could also go toward increasing its physical footprint across additional facilities and securing more power for data centers. “With this additional financing capacity, we can operate decisively by deploying capital to expedite project ready-for-service timelines, making us an even more compelling infrastructure provider for customers,” CEO Adam Sullivan said in a statement. The development shows how banks like Morgan
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CORZ
News
- Core Scientific secures $1 billion loan from Morgan Stanley amid AI pivot [Yahoo! Finance]Yahoo! Finance
- Why this fired OpenAI employee is betting $1bn on Bitcoin miners [Yahoo! Finance]Yahoo! Finance
- Core Scientific Secures Strategic Financing with Morgan Stanley for Up To $1 BillionBusiness Wire
- Clearline Capital Increases Core Scientific Stake as Bitcoin Mining Becomes a Data Center Business [Yahoo! Finance]Yahoo! Finance
- Core Scientific (CORZ) had its price target raised by Canaccord Genuity Group Inc. from $17.00 to $20.00. They now have a "buy" rating on the stock.MarketBeat
CORZ
Earnings
- 3/2/26 - Beat
CORZ
Sec Filings
- 3/6/26 - Form 8-K
- 3/4/26 - Form SCHEDULE
- 3/2/26 - Form 10-K
- CORZ's page on the SEC website