- Core Scientific is uniquely positioned to deliver AI data center scale in the one-to-three year timeframe, the report said.Bernstein said legacy data centers can provide equivalent scale, but not in the same timeframe.The broker has an outperform rating on Core Scientific with a $17 price target.
According to analysts headed by Gautam Chhugani, the company enjoys several advantages such as easy access to suitable sites and power, reduced competition within the data center market for the next 1-3 years, and the capacity to assemble a robust pool of skilled data center personnel.
The broker pointed out that certain investors expressed worries regarding potential counterparty risks between Core Scientific and CoreWeave due to the agreement, as well as the dangers of an overbuild financed by debt.
According to Bernstein, they recommend that Core Scientific’s stock performs better than average, setting a predicted price of $17 per share. At the time of publishing, the stock was roughly stable, hovering around $10.
Bitcoin mining companies are finding it beneficial to collaborate with private equity firms for artificial intelligence computing, as Core has done with its CoreWeave agreement, according to their CEO during an exclusive interview with CoinDesk.
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2024-09-10 18:28