BTIG Raises its Price Target on Core Scientific, Inc. (CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) is among the Best AI Power Grid Stocks.

On June 25, BTIG raised its price target on Core Scientific, Inc. (NASDAQ:CORZ)  to $38 from $33. The firm maintained a Buy rating on the shares. BTIG said accelerating data center construction and persistent demand for prompt power continue to create artificial intelligence colocation opportunities. The firm also noted five high-performance compute infrastructure contracts signed across its coverage universe during the second quarter.

Core Scientific, Inc. (NASDAQ:CORZ) built up its capital structure by closing a $3.3 billion offering of 7.75% senior secured notes due 2031. It expanded its gross power capacity pipeline to 4.5 GW and acquired land and power assets in Hunt County, Texas, for approximately $233 million. The firm supports about 430 MW of capacity.

BTIG Raises its Price Target on Core Scientific, Inc. (CORZ)

CEO Adam Sullivan said the corporation continues investing ahead of contracts. It is advancing development timelines across multiple sites to speed up customer discussions and sustain its high-density compute infrastructure platform.

Core Scientific, Inc. (NASDAQ:CORZ) operates a purpose-built facility for digital asset mining and the provision of blockchain infrastructure, software solutions, and services. It works under the Mining and Hosting segments.

While we acknowledge the risk and potential of CORZ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CORZ and that has 10,000% upside potential, check out our report about the cheapest AI stock.

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