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Core Scientific reports strong results as AI colocation revenue reaches 92%

Stocktwits +3 · ·by G4L

CORZ
CORZ Core Scientific Inc
$13.13 +3.22%
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  1. 1Core Scientific recorded total revenue of $232.9 million for the quarter, exceeding analyst expectations of $193 million.
  2. 2Core Scientific colocation revenue grew nearly 60% compared to the previous quarter, with AI colocation accounting for 92% of total revenue in the third quarter.
  3. 3CEO Adam Sullivan said the company is nearing the full delivery of its first major colocation contract.

So what's the key point?

Core Scientific earned much more money than expected through its artificial intelligence business. This business is driving the company's growth, making up 92 percent of total revenue.

Source Stocktwits +3 · View original ↗

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