Core Scientific and AMD Announce 500 MW AI Data Center Partnership; AMD Receives 30 Million CORZ Warrants

Austin, TX, July 28, 2026. Core Scientific, Inc. (Nasdaq: CORZ) has announced a strategic partnership with Advanced Micro Devices (Nasdaq: AMD) to develop 500 megawatts of AI-optimized data center capacity. As part of the deal structure, AMD will receive 30 million CORZ share warrants. The agreement represents one of the largest compute infrastructure commitments by a Fortune 500 semiconductor manufacturer with a crypto-native infrastructure provider.

The 500 MW capacity target represents a significant expansion in AI-optimized compute supply at a time when hyperscalers and enterprise AI operators face acute infrastructure shortages. For context, most large commercial data centers operate between 10 and 50 MW. Core Scientific's existing operational expertise in large-scale power management, cooling systems, and high-density infrastructure deployment positions the company to provision AI workloads at scale.

Rather than a conventional cash-based agreement, AMD will receive 30 million CORZ share warrants, directly aligning AMD's compensation with Core Scientific's long-term equity performance. Warrant vesting schedules and strike prices have not been publicly disclosed. The warrant grant carries dilution implications for existing CORZ shareholders.

The AMD partnership arrives within a broader wave of institutional capital moving into crypto and blockchain infrastructure. Deutsche Börse acquired a $200 million strategic stake in Kraken in April 2026. Visa expanded its stablecoin infrastructure through partnerships with Base and Polygon in June 2026. Securitize formalized a transfer agent partnership for tokenized securities in April 2026.

At full utilization, the 500 MW facility represents an estimated $400 to $600 million in annual revenue potential, based on current AI compute pricing of approximately $0.10 to $0.15 per kilowatt-hour. Phase one deployment milestones are targeted for completion between Q4 2026 and Q2 2027, with full capacity operations expected to follow in subsequent phases.

Core Scientific has indicated it is in discussions with additional semiconductor manufacturers and hyperscaler customers to expand beyond the initial 500 MW commitment. The company has not confirmed specific additional partners.

Execution risk on large-scale data center deployment, power grid constraints in key operating regions, and competitive pressure from both traditional operators and hyperscaler-owned infrastructure remain material considerations for investors.

About Core Scientific

Core Scientific, Inc. (Nasdaq: CORZ) is a large-scale operator of blockchain infrastructure and AI compute facilities in North America. The company has pivoted toward general-purpose AI compute provision, leveraging its operational expertise in high-density power management, industrial cooling, and large-scale infrastructure deployment. Core Scientific operates facilities across multiple U.S. states and is headquartered in Austin, Texas.

About AMD

Advanced Micro Devices, Inc. (Nasdaq: AMD) is a global semiconductor company specializing in high-performance computing, graphics, and visualization technologies. AMD's data center GPU and CPU product lines serve AI training, inference, and cloud computing workloads across hyperscaler and enterprise customers worldwide. The company is headquartered in Santa Clara, California.

Media Inquiries: Core Scientific Communications: [email protected] AMD Corporate Communications: [email protected]

Forward-Looking Statement Disclaimer: This press release contains forward-looking statements subject to risks and uncertainties. Actual results may differ materially from those projected. Neither Core Scientific nor AMD guarantees warrant value, deployment timelines, or revenue outcomes.