Where did you find data about core weave and iren about 12 year deals or buyout? Isn't this with Corz?
8/23/2024 08:22am
**My apologies for the confusion. You are correct that the 12-year deals and buyout offers are related to Core Scientific (CORZ) and not Iren. Core Scientific announced a series of 12-year contracts with CoreWeave in June, and CoreWeave also made an offer to acquire Core Scientific for $5.75 per share. These deals are significant for Core Scientific as they provide long-term contracted revenue and enhance its earnings power.**
1. **Core Scientific's 12-Year Contracts with CoreWeave**:
- Core Scientific entered into a series of 12-year contracts with CoreWeave for 200 MW of infrastructure.
- The contracts are expected to generate more than $3.5 billion in revenue over their lifetime.
- Core Scientific will modify 100 MW of its owned infrastructure to deliver approximately 70 MW to host CoreWeave's NVIDIA GPUs for HPC operations.
2. **CoreWeave's Buyout Offer for Core Scientific**:
- CoreWeave proposed a buyout offer for Core Scientific at $5.75 per share in cash.
- The offer was made after the signing of the initial contracts, and Core Scientific's board rejected it, citing undervaluation.
3. **Core Scientific's Strategic Importance for CoreWeave**:
- Core Scientific's infrastructure is critical for CoreWeave's expansion into HPC and AI.
- Core Scientific's high-powered digital infrastructure is well-suited to support CoreWeave's needs for computing power.
4. **Financial Implications of the Deals**:
- The 12-year contracts are expected to significantly enhance Core Scientific's revenue and earnings power.
- The buyout offer reflects CoreWeave's confidence in Core Scientific's infrastructure and its strategic importance for CoreWeave's growth.
In conclusion, the 12-year deals and buyout offers are related to Core Scientific (CORZ) and CoreWeave, not Iren (IREN). These deals are significant for Core Scientific as they provide long-term contracted revenue and strengthen its position in the AI and HPC markets.