11 Most Promising New Technology Stocks According to Analysts

2. Core Scientific, Inc. (NASDAQ:CORZ)

Analyst Upside Potential: 80.27%

Number of Hedge Fund Holders: 66

Core Scientific, Inc. (NASDAQ:CORZ) is a new technology company that engages in digital infrastructure and services for bitcoin mining and high-performance computing. It operates data centers across the United States and operates through three main business segments, including Digital Assets Self Mining, Digital Asset Hosted Mining, and HPC hosting.

On May 8, Gautam Chhugani from Bernstein maintained a Buy rating on the stock, with a price target of $17. The analyst highlighted that the company is strategically positioned in the AI data center market with its commitment to deliver 590 MW to AI firm CoreWeave. As Core Scientific, Inc. (NASDAQ:CORZ) announced on February 26 that it signed a $1.2 billion expansion partnership with CoreWeave to expand company’s Denton, Texas data center site. The company is also expanding its AI co-location capacity, aiming to develop 1.3 GW through new power developments and site acquisitions. Management noted that the agreement spans 12 years and increases the total projected revenue from CoreWeave to $10.2 billion.

Regardless of a drop in stock price after the recent market fears, the analyst believes that the company is well-positioned for long-term growth. Core Scientific, Inc. (NASDAQ:CORZ) ranks as one of the most promising new technology stock according to analysts.