Domo signs strategic collaboration agreement with AWS for AI solutions
Core Scientific, Inc. (NASDAQ:CORZ) CEO Adam Taylor Sullivan recently sold a significant portion of his shares in the company. The stock, which has seen a remarkable 226% return over the past year according to InvestingPro data, has recently experienced some volatility with a 26% decline in the past week. According to a filing with the Securities and Exchange Commission, Sullivan sold 369,712 shares of common stock on January 24, 2025. The shares were sold at an average price of $16.239, resulting in a total transaction value of approximately $6,003,753.
Following the sale, Sullivan retains ownership of 3,758,793 shares. The sale was conducted to satisfy tax obligations upon the vesting of restricted stock units, as noted in the filing.
In other recent news, Core Scientific has been in the spotlight with several significant developments. The company has received a Buy rating and a price target of $24.00 from Craig-Hallum, aligning with the broader analyst consensus. Core Scientific’s recent deal with CoreWeave was praised for its potential to attract more deals from large technology and AI cloud companies. The company has secured $8.7 billion in high-margin revenue through contracts, highlighting a promising growth trajectory.
Core Scientific has also announced its plan to offer $500 million in convertible senior notes, aiming to attract qualified institutional investors. Meanwhile, Compass Point has raised its stock price target for Core Scientific from $20.00 to $26.00, maintaining a ’Buy’ rating. This decision is based on the company’s potential to secure high-performance computing contracts and diversify its customer base.
Further highlighting its growth, Core Scientific has initiated construction on a new 100-megawatt data center in Muskogee, Oklahoma. This facility is part of a larger agreement with CoreWeave, involving a total of 500 megawatts of IT load contracted for high-performance computing hosting operations. Jefferies, a global investment banking firm, has given Core Scientific a ’Buy’ rating, acknowledging the company’s successful transition from Bitcoin mining to building artificial intelligence-focused data centers. These recent developments underscore Core Scientific’s ongoing efforts to secure additional funding, diversify its customer base, and expand its high-performance computing capabilities.
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