Core Scientific Secures $14 Billion AMD Deal Amid Mixed Q2 Results — Core Scientific, Inc.

Event summary

Core Scientific announced a partnership with AMD, potentially supporting up to 2.5 GW of leasable capacity with $14 billion in contracted revenue.
Total leased customer power capacity increased to approximately 1.1 GW, representing over $24 billion in potential contracted revenue.
Q2 2026 saw colocation revenue at $136.7 million, up from $77.5 million in Q1 2026 and $10.6 million in Q2 2025.
Net loss for Q2 2026 was $1,155.3 million, primarily driven by the change in fair value of warrants.
Capital expenditures reached $797.5 million, reflecting significant investment in infrastructure.

The big picture

Core Scientific's strategic partnership with AMD underscores the growing demand for high-density colocation services supporting AI workloads. The company's significant investments in infrastructure and increased leased capacity reflect its aggressive expansion strategy. However, the substantial net loss highlights the financial challenges of scaling in a capital-intensive industry.

What we're watching

Revenue Growth: Whether Core Scientific can sustain its revenue growth trajectory amid high capital expenditures and significant net losses.
Strategic Partnerships: How the AMD partnership will impact Core Scientific's ability to scale and meet demand for high-density colocation services.
Financial Health: The pace at which Core Scientific can improve its financial health, particularly in reducing net losses and managing liquidity.