Texas Power Play: Hut 8 Sparks a $9.8B AI Infrastructure Deal Core Scientific (NASDAQ:CORZ) said it has entered a commercial partnership with AMD covering up to 2.5 gigawatts of data center capacity, beginning with approximately 530 megawatts across five campuses under 15-year…
reements. Chief Executive Officer Adam Sullivan said the initial agreements represent more than $14 billion of base contracted revenue and include 2.5% annual escalators
The company now has about 1.1 gigawatts of total contracted billable capacity, representing more than $24 billion of base contracted revenue, according to management. – How TeraWulf’s Anthropic Deal Booted Up a $19B AI Empire The AMD commitment includes roughly 380 megawatts delivered directly to AMD through triple-net leases at Core Scientific’s Pecos, Hunt and Muskogee sites. The remaining approximately 150 megawatts at the Auburn and Dalton campuses will support an unnamed Neocloud customer through modified gross leases, with AMD providing full credit support for the 15-year terms. Sullivan said the AMD credit support arrangements do not include equity step-in rights, which he said protects Core Scientific’s equity investments in the projects.
The company also issued AMD a warrant with a strike price reflecting current market levels, subject to certain commercial conditions. Expansion rights and development plans – These 3 Bitcoin Miner Stocks Are Riding the AI Data Center Boom AMD has exclusive reservation rights, at specified times and under specified conditions, to lease as much as an additional 2 gigawatts of capacity. Core Scientific said it believes it can make that capacity available through additional grid-connected power, capacity progressing through load studies and behind-the-meter power solutions at Pecos, Hunt and Muskogee.