Core Scientific has announced the acquisition of a credit line from Morgan Stanley amounting to up to $1 billion. The company plans to utilize the funds to scale its data centers, with a particular focus on developing infrastructure for artificial intelligence.
This is reported by Finway
Loan Terms and Company Strategic Plans
According to the press release, Core Scientific has already signed an agreement for a credit line of $500 million, with the potential to double the funding amount to $1 billion. The agreement has a term of one year, and the interest rate is set at SOFR (Secured Overnight Financing Rate) as of March 2026 — 3.7%, plus an additional 250 basis points.
The funds are intended for general corporate purposes, but the primary emphasis is on expanding the capacity of data centers to support the company’s ambitions in artificial intelligence.
“With these additional financial opportunities, we can act decisively, directing capital to accelerate project deployment timelines, making us an even more attractive infrastructure provider for clients,” said CEO Adam Sullivan.
Market Impact and Shareholder Reaction
The new loan aligns with Core Scientific’s strategic plans for active development in the field of artificial intelligence. Previously, the company reported the possibility of fully liquidating its Bitcoin reserves to finance new business directions, particularly related to IT infrastructure.
However, shareholders have not reacted positively to the changes — Core Scientific’s shares are currently trading at a significant discount, and in the past five days, their price has decreased by more than 10%.
Overall, the professional community highly values the collaboration between major players in the mining and artificial intelligence markets. For Morgan Stanley, this also represents an opportunity to strengthen its position in a promising sector. Notably, this bank has previously submitted applications to launch new exchange-traded funds focused on crypto assets.