Key facts
- Core Scientific and AMD signed a 15-year deal for 529 MW of AI data center capacity.
- The agreement has options to expand to 2.5 GW, potentially generating over $14 billion in base contracted revenue for Core Scientific.
- AMD received warrants for up to 30 million Core Scientific shares.
- The deal accelerates Core Scientific's strategic pivot from Bitcoin mining to AI infrastructure.
- Core Scientific terminated a prior agreement to purchase bitcoin-mining chips from Block.
Core Scientific, a data center operator, has announced a significant 15-year infrastructure partnership with Advanced Micro Devices (AMD). The deal involves AMD leasing 529 megawatts (MW) of U.S. AI capacity, with options to reserve an additional 1.9 gigawatts (GW) through December 2028, potentially bringing the total to 2.5 GW. This collaboration is expected to generate over $14 billion in base contracted revenue for Core Scientific and accelerate its strategic pivot away from bitcoin mining towards AI data centers. The agreement follows Core Scientific's termination of an ASIC chip purchase agreement with Block. AMD directly leased 377 MW across Core Scientific sites in Texas and Oklahoma, while an unnamed cloud provider leased another 152 MW in Alabama and Georgia under AMD-supported agreements. The partnership includes collaboration on data center design and the deployment of AMD's Instinct GPUs, EPYC processors, and ROCm software. AMD also received warrants to purchase up to 30 million Core Scientific shares.