Bitcoin miner Core Scientific is expanding its AI business through a $6.7 billion partnership with cloud company CoreWeave.
Bitcoin miner Core Scientific announced plans to significantly expand its AI business through a partnership with cloud provider CoreWeave.was bankrupt and battling angry lenders. Since its return to the stock market that month, the share price is up 140% as the company aggressively goes after building a business in artificial intelligence.-backed startup that's one of the main providers of the chipmaker's technology for running AI models.
"We've seen tremendous growth since our emergence in January and have been laser focused on developing best-in-class digital infrastructure," Core Scientific CEO Adam Sullivan told CNBC."This infrastructure advantage has allowed us to diversify revenue and reallocate certain facilities to address the growing need" for the type of technology required for AI.
Needham analysts wrote in a report in May that almost all infrastructure that miners currently have would"need to be bulldozed and built from the ground up to accommodate HPC," or high-performance computing.in June with former President Donald Trump, who recently jumped into the conversation of the convergence of bitcoin mining and AI.
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