Overview
- Jackson Peak Capital disclosed in its Q1 2026 investor letter that it re‑engaged with Core Scientific and highlighted the stock as a key way to gain exposure to AI infrastructure.
- Core Scientific has repositioned from crypto mining to high‑performance colocation and counts a roughly 590 MW, 12‑year hosting agreement with CoreWeave that Jackson Peak values as the company’s foundational contract.
- The firm also notes about 1.5 GW of additional leasable power in Core Scientific’s pipeline and says management is in active talks with potential customers.
- Investors have responded with strong share gains and wider institutional interest, with reported one‑month and year‑to‑date jumps, a market capitalization near $9.1 billion, and a small rise in hedge fund holdings.
- Jackson Peak frames the next material catalyst as one or more new colocation customer signings in 2026 and warns that execution on leases, the pace of customer wins, and the wider AI spending cycle are the main risks to the thesis.