Overview
- AMD and Core Scientific announced the agreement Tuesday that anchors roughly 529–530 megawatts under 15‑year leases across five U.S. sites with deployments expected to begin in 2027.
- The contracts give AMD conditional rights to reserve up to an additional 1,925 megawatts through Dec. 28, 2028, creating a potential pathway to about 2.5 gigawatts of capacity.
- AMD received market‑priced warrants to buy up to 30 million Core Scientific shares with about 6.5 million vesting at signing and further tranches tied to commercial capacity milestones.
- Company management said the initial build‑out will require multibillion‑dollar project financing and flagged construction schedules, grid interconnection, power delivery and equipment installs as the key execution risks.
- The deal accelerates Core Scientific’s move from bitcoin mining to AI colocation and expands its leased footprint and revenue pipeline, but investors will watch milestone vesting, financing plans and actual capacity brought online to see if the papered revenue converts to cash flow.