Core Scientific has announced a monumental $3.5 billion contract with cloud service provider CoreWeave, aimed at diversifying its business into artificial intelligence (AI) and high-performance computing (HPC). This 12-year deal includes significant infrastructure upgrades worth $300 million, financed by CoreWeave. This move will retrofit Core Scientific's facilities for advanced AI applications, positioning the company for robust growth. CEO Adam Sullivan emphasized the strategic shift to balance Bitcoin mining with AI hosting, enhancing shareholder value and ensuring sustainable revenue streams.
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