AI Infrastructure Growth
AMD and Core Scientific Partner to Secure 2.5 GW AI Data Center Capacity
Anonymous
Key Points
1
The AMD-Core Scientific warrant package includes a warrant to purchase up to 30 million Core Scientific shares at an exercise price of $23.47 per share. Vesting occurs at a rate of 12,222 shares for each 1 MW of critical IT load, with about 6.5 million shares already vested as of July 27, 2026; the warrant is exercisable immediately subject to vesting and expires on July 27, 2031, issued under the Securities Act exemption (4(a)(2)).
2
The leases underpinning the partnership are 15-year agreements anchored by roughly 530 MW across five Core Scientific sites, forming the basis for AMD’s potential expansion up to 2.5 GW of data-center capacity.
3
Core Scientific’s geographic footprint for the deal spans seven states—Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma and Texas—highlighting a distributed, high-density colocation network intended to support AI workloads.
4
Core Scientific scheduled an investor-focused event around the AMD deal, including a Q2 2026 results release and a conference call on July 28, 2026, with details and an investor presentation to be provided to shareholders.
AMD and Core Scientific have struck a deal to secure up to 2.5 gigawatts of data center capacity for AMD's artificial intelligence customers, according to MarketWatch. The agreement starts with 500 megawatts of U.S. infrastructure in 2027, with an option to expand to the full 2.5 GW — enough to power a small city.
The partnership covers AMD's full AI stack: Instinct GPUs, EPYC CPUs, and ROCm software. As part of the deal, AMD will receive warrants to buy up to 30 million Core Scientific shares at $23.47 each, per Investing.com.
Core Scientific Locks In 530 MW Across Five Sites
The foundation of the deal is a set of 15-year leases covering roughly 530 megawatts across five Core Scientific locations, according to TipRanks. Those leases anchor AMD's path to scaling all the way to 2.5 GW over time.
Core Scientific has now grown its total leased capacity to about 1.1 gigawatts. As of mid-July, the company was billing for 437 megawatts of that. The sites span seven states: Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma, and Texas.
AMD Gets Stock Warrants Tied to Power Usage
The warrant structure is unusual: AMD earns the right to buy Core Scientific shares based on how much computing load its customers actually use. For every 1 megawatt of critical IT load deployed, AMD vests 12,222 shares, according to MarketWatch.
About 6.5 million of the 30 million shares had already vested as of July 27, 2026. The warrants are priced at $23.47 per share and expire on July 27, 2031. AMD can exercise them immediately as they vest. The deal was issued under a standard U.S. securities law exemption and detailed in SEC filings.
A Distributed Network Built for High-Density AI Work
Core Scientific built its reputation on bitcoin mining data centers. Now it is pivoting hard toward AI. The company's sites are spread across seven states, giving AMD and its customers geographic flexibility and redundancy, per MarketScreener.
High-density AI infrastructure requires far more power per square foot than traditional cloud servers. AMD's Instinct GPUs — used for training and running large AI models — need exactly that kind of setup. The deal gives AMD a ready-made, distributed colocation network to meet that demand.
Deal Signals a Broader Race to Lock Up AI Capacity
The AMD-Core Scientific tie-up is part of a wider trend. Chip companies and cloud providers are rushing to sign long-term data center deals before capacity runs out. Commitments like this one — spanning 15 years and multiple gigawatts — were nearly unheard of just a few years ago.
Core Scientific held a Q2 2026 earnings call on July 28, 2026, pairing its financial results with the AMD announcement. The company used the moment to highlight its expanded leasable capacity and the long-term revenue potential of the partnership, according to TipRanks.
Sentiment
Mostly PositiveNEGATIVENEUTRALPOSITIVE
Publishers
48
Articles
124
Reach
172
A
AnonymousAuthor
