From Yahoo Finance: 2025-05-24 03:29:00

On May 22, a Citizens JMP analyst initiated coverage of Core Scientific Inc. (NASDAQ:CORZ) with an Outperform rating and a price target of $15. The analyst is optimistic about Core Scientific’s existing infrastructure of low-cost, high-density mining facilities, which could be used for data centers, expanding the company’s revenue streams beyond digital asset mining.

The analyst believes that if Core Scientific successfully transitions to leasing data center capacity, its high-performance computing hosting business could be valued at $48 per share in the long term. The HPC business accounted for around 5% of total revenue in 2024 and has grown significantly since the company started this strategic transition in mid-2024.

Citizens JMP has a positive outlook on the broader bitcoin power space, and recently initiated coverage on CoreWeave with a similarly optimistic thesis. Core Scientific is evolving into a large-scale digital infrastructure provider for high-performance computing, offering digital infrastructure, software solutions, and services to third-party customers.

While Core Scientific shows investment potential, some AI stocks may offer greater promise for higher returns with limited downside risk. For those seeking AI stocks with significant upside potential, a report on the cheapest AI stock may be of interest. No disclosures were made in the article.



Read more at Yahoo Finance: Citizens JMP Initiates Core Scientific with an Outperform