Core Scientific lands AMD AI deal as bitcoin mining operation winds down

Data center operator Core Scientific (CORZ) announced an infrastructure partnership with Advanced Micro Devices (AMD) anchored by 15-year leases for 529 megawatts of U.S. AI capacity, which the company said could generate more than $14 billion in base contracted revenue.

The capacity is expected to support AMD customer deployments beginning in 2027. The agreements give AMD, under certain conditions, the right to reserve another 1,925 MW through Dec. 28, 2028, potentially expanding the partnership to roughly 2.5 gigawatts.

AMD directly leased 377 MW across Core Scientific sites in Pecos and Hunt County, Texas, and Muskogee, Oklahoma, according to the company’s quarterly filing.

An unnamed cloud provider leased another 152 MW in Auburn, Alabama, and Dalton, Georgia, under agreements supported by AMD.

Core Scientific and AMD will collaborate on data-center design and the deployment of AMD Instinct graphics processing units, EPYC processors and ROCm software, the companies said.

AMD also received warrants to purchase up to 30 million Core Scientific shares at $23.47 per share. About 6.5 million vested when the initial leases were signed, with further warrants vesting as additional capacity is contracted.