Core Scientific, Inc. announced that CoreWeave, the AI Hyperscaler, has exercised its first option to contract for additional infrastructure under the terms of its previously announced 200 megawatt (?MW?), 12-year high-performance computing (?HPC?) hosting contracts entered into with CoreWeave on June 3, 2024. Under the terms of today?s announced agreement, Core Scientific will modify a total of 100 MW of its owned infrastructure to deliver approximately 70 MW to host CoreWeave?s NVIDIA GPUs for HPC operations. Site modifications are expected to begin in the second half of 2024, with operational status anticipated in the second half of 2025.

This new 12-year HPC hosting contract will further increase Core Scientific?s exposure to contracted, multi-year, dollar-denominated revenue. From revenue to gross margin, the new contract with CoreWeave is expected to enhance earnings power and drive shareholder value, adding an additional $1.225 billion in projected cumulative revenue over the 12-year contract timeline to the more than $3.5 billion in projected cumulative revenue associated with previously announced contracts with CoreWeave. Building on the previously announced 200 MW of infrastructure for HPC hosting, the agreement announced will position Core Scientific to provide approximately 270 MW of HPC infrastructure to CoreWeave by the second half of 2025.

CoreWeave retains optionality for further expansion with an additional approximately 230 MW of infrastructure for HPC hosting at other Core Scientific sites, which if exercised would place Core Scientific among the largest data center operators in the United States.