Rothschild Redburn initiated coverage on Core Scientific (NASDAQ:CORZ), a bitcoin miner and data center provider. The firm assigned a Neutral rating and a $16.00 price target. This target stood below the stock's trading price of approximately $17.99 at the time of the report.
The firm's neutral stance reflects a cautious outlook on the broader AI infrastructure sector. Rothschild's analyst noted credit markets signal potential risks. This contrasts with bullish sentiment in equities. The report suggests high, off-balance-sheet commitments by major cloud companies (hyperscalers) could limit their capacity to fund the next phase of AI infrastructure investment.