Core Scientific shareholders rejected a $9 billion all-stock acquisition offer from CoreWeave in October 2025, choosing independence over exchanging their shares for CoreWeave stock. Seven months later, in July 2026, the company announced a strategic partnership with AMD covering over 500 megawatts of AI-ready data center capacity, expandable to 2.5 gigawatts starting in 2027. AMD obtained warrants allowing it to purchase Core Scientific shares at market prices under specific commercial conditions, potentially making it a significant shareholder. This alliance validates Core Scientific’s pivot strategy, as the company transformed after its bankruptcy in late 2022 from Bitcoin mining to high-density colocation services for AI and high-performance computing.
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