Coreweave
October 22, 2024
Coreweave Unicorn News - October 22, 2024
Coreweave has expanded its hosting agreement with Core Scientific, securing an additional 120 megawatts of capacity. This expansion is projected to bring in $8.7 billion in revenue, marking a significant step for Coreweave as it becomes one of the largest publicly traded data center operators in the U.S.
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) Introduction(
) Core Scientific Expands Hosting Agreement with CoreWeave, Forecasts $8.7 Billion RevenueCore Scientific has announced a major expansion of its hosting agreement with CoreWeave, a move that underscores its growing influence in the data center industry. CoreWeave has opted to increase its hosting capacity by an additional 120 megawatts, a decision that is projected to generate an extra $2 billion in revenue over a 12-year period. This expansion elevates the total expected revenue from the agreement to $8.7 billion. As part of this strategic expansion, CoreWeave will invest $180 million in capital for necessary infrastructure upgrades, with operations slated to begin in the second half of 2026. This development significantly enhances Core Scientific's standing, positioning it as one of the largest publicly traded data center operators in the United States, and marks a pivotal step in its operational and financial growth.
Sources
1 https://cryptoslate.com/core-scientifics-ai-deal-fuels-8-7-billion-revenue-forecast-shares-rise/
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