AMD secures 500MW AI data center capacity from Core Scientific

Advanced Micro Devices announced a major infrastructure partnership with Core Scientific on Tuesday that will give the chipmaker access to 500MW of AI data center capacity starting next year, with the ability to expand to 2.5GW. The deal is valued at more than $14 billion（約2.2兆円） in potential contracted revenue for Core Scientific. Under the agreement, AMD will deploy its Instinct GPUs, EPYC CPUs, and ROCm software at Core Scientific's facilities. AMD will also receive market-priced warrants to buy Core Scientific stock, subject to certain conditions, and the two companies will collaborate on the physical design of the data center facilities.

Core Scientific has undergone a significant business transformation, pivoting away from Bitcoin mining toward AI colocation services. AI work now accounts for 77% of the company's revenue. For Core Scientific CEO Adam Sullivan, the partnership validates the company's execution record and positions it to support AMD's technology roadmap. On AMD's side, executive Mathew Hein emphasized that trusted infrastructure partners are critical as AI deployments accelerate—a statement that underscores how the competitive landscape for AI is shifting from chip design alone to the full stack of hardware, power, and physical capacity.

The stock market reaction highlighted this shift. Core Scientific jumped 11.2% in premarket trading, reflecting investor confidence in its long-term revenue visibility. AMD, however, fell 4.7% amid broader weakness in the chip sector, suggesting that some investors view the partnership as a signal that AMD faces challenges filling capacity or competing against rivals. For investors, the deal underscores a broader trend: winning in AI is no longer just about making the fastest chips, but about securing the power and infrastructure to deploy them. Over the coming years, the critical question will be whether AMD can utilize the 500MW capacity before 2027.

AMD's partnership with Core Scientific represents a recognition that AI deployment at scale requires more than cutting-edge chips—it demands massive, reliable power and infrastructure. Core Scientific's transition from cryptocurrency mining to AI colocation positions it to fill this need; the company already derives 77% of revenue from AI-related work, and this $14 billion（約2.2兆円）-potential deal locks in a major customer for years. The partnership also gives AMD a captive deployment environment where it can test its chip roadmap against real-world demands. The market's divergent reaction—Core Scientific up 11.2% in premarket trading, AMD down 4.7%—suggests that investors are recognizing both the infrastructure opportunity and the uncertainty around AMD's ability to fill the capacity against competition from Nvidia.

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