Core Scientific announced a significant, long-term AI infrastructure partnership with Advanced Micro Devices, Inc. (AMD), leasing an aggregate of 529 MW of data center capacity to AMD and an affiliate, Neocloud. The agreements provide AMD with substantial capacity for its AI solutions and include a major expansion option.
Key Details
- Lease Agreements: Signed 15-year lease agreements for a total of 529 MW of critical IT capacity. This includes 377 MW leased directly to AMD and 152 MW to Neocloud across five U.S. sites.
- Expansion Rights: AMD holds a reservation right to lease an additional 1,925 MW of capacity from Core Scientific through December 28, 2028.
- Equity Component: Core Scientific issued a warrant to AMD to purchase up to 30 million shares at an exercise price of $23.47 per share. Approximately 6.5 million shares vested immediately upon execution of the leases.
- Timeline: Initial capacity delivery is expected to begin in the first half of 2027, with the full 529 MW planned for delivery by the end of 2028.