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@ Layer3.news
2025-03-06 21:34:27
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CORE SCIENTIFIC SHARES DROP 18% AS MICROSOFT CUTS SOME COREWEAVE DEALS
https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NTZkM2EtNWZlMC03ODBkLTgwMGItYjFkODI0OTRjZDg2.jpg
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✍️ Core Scientific's shares fell 18% after reports that Microsoft reduced its commitment to CoreWeave, its partner, due to missed deadlines and issues delivering materials.
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👉 Core Scientific signed a $100 million deal with CoreWeave to provide data center services
👉 Shares of Core Scientific fell 18% after reports of Microsoft's reduced commitment to CoreWeave
👉 CoreWeave missed deadlines and had issues delivering materials needed to scale AI models
👉 Microsoft is CoreWeave's largest customer, accounting for 35% of revenue in 2023 and 62% in 2024
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#MichaelSaylor #BrianArmstrong #BradGarlinghouse #Austin,Texas #business
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