Funding
Core Scientific Secures $3.3B in Notes
Core Scientific has secured $3.3 billion in notes that pay 7.75% annually, generating about $255.8 million per year on the original principal. The company may recover construction contributions via rent credits, halving relevant rent until the allowance runs out. The funding will be used to expand CoreWeave's AI infrastructure business, which has already secured $1 billion in NVIDIA equipment orders and is working on finalizing contracts with customers.