Summary by Moomoo AI
Core Scientific announced that CoreWeave has exercised its first option to contract for approximately 70MW of additional infrastructure for high-performance computing operations. The new 12-year hosting contract will require modification of 100MW of existing infrastructure, with site modifications beginning in H2 2024 and operations expected to start in H2 2025.The agreement is projected to generate $1.225 billion in cumulative revenue over the 12-year contract period, adding to the previously announced $3.5 billion from existing CoreWeave contracts. All capital investments for infrastructure modifications will be funded by CoreWeave, with an estimated $105 million to be credited against hosting payments at maximum 50% of monthly fees.This expansion increases Core Scientific's total HPC hosting capacity allocated to CoreWeave to approximately 270MW, with potential for additional 230MW through remaining options. The company's total contracted power of 1.2 gigawatts enables delivery of nearly 500MW for HPC hosting, positioning it among the largest data center operators in the United States.
