Earnings call briefThird-quarter 2026
Core Scientific expects $1.8 billion run-rate once contracts fully bill
Core Scientific said the approximately 1.1 GW of CoreWeave and AMD capacity is expected to yield $1.6 billion in NOI once fully delivered and billing.
GetSignal Core Scientific CORZ
Chief Financial Officer Jim Nygaard said on the call that the company also currently expects approximately $650 million in cash proceeds from exercise of its Tranche 1 Warrants around their January 2027 expiration. Nygaard said the company does not expect to issue additional equity or equity-linked securities to fund the first phase of the AMD build-out.
Quotes from the call
“We have approximately 1.1 GW contracted across CoreWeave and AMD. Once fully delivered and billing, we expect that portfolio alone to generate $1.8 billion in average annual run rate revenue and $1.6 billion in NOI.”
“We also currently expect approximately $650 million in cash proceeds from the exercise of our Tranche 1 Warrants around their January 2027 expiration, further supporting our liquidity.”
Key facts from the call
- Expected average annual run-rate revenue, approximately 1.1 GW portfolio, once fully delivered and billing
- $1.8 billion
- Expected NOI, same portfolio, once fully delivered and billing
- $1.6 billion
- Expected Tranche 1 Warrant cash proceeds
- Approximately $650 million, around January 2027 expiration
Source: Core Scientific's third-quarter 2026 earnings call, November 5, 2026.
Written by GetSignal with AI from the company's earnings call.
Not investment advice.
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