Core Scientific Secures Up to $1B Morgan Stanley Credit for Data Centers
Core Scientific announced a financing arrangement with Morgan Stanley that could provide up to $1 billion to build and upgrade data center infrastructure aimed at high‑density computing workloads, explicitly citing artificial intelligence and high‑performance computing. The credit facility is intended to support GPU‑heavy and other compute‑intensive deployments, representing a formal expansion of the company’s business beyond its legacy Bitcoin mining operations.
The move matters because it positions Core Scientific to capture growing enterprise demand for AI infrastructure and to monetize existing real estate and power contracts more flexibly. Successful execution could diversify revenue and improve utilization, while the Morgan Stanley backing adds financing credibility; however, outcomes will hinge on timing, demand from AI customers, and the company’s ability to repurpose capacity efficiently.