Core Scientific Signs 11-Year Contract with CoreWeave, with Potential Revenue Exceeding $3.5 Billion

Core Scientific announced on Monday that it has reached a 12-year agreement with cloud computing provider CoreWeave to provide infrastructure for use cases such as machine learning. Core Scientific stated that the agreement expands on the existing partnership between the two companies and will generate over $3.5 billion in revenue during the contract period. CoreWeave, supported by Nvidia, rents graphics processing units (GPUs) for training and running artificial intelligence models. CoreWeave was valued at $19 billion in a funding round last month. Core Scientific will provide approximately 200 megawatts of infrastructure to CoreWeave's operations.