Core Scientific shares rise after Polaris DS acquisition
Updated
Updated · MarketWatch · May 6
Core Scientific shares rise after Polaris DS acquisition
6 articles · Updated · MarketWatch · May 6
The stock gained 10.7% to $24.56 as the company unveiled a $421 million deal to expand its Muskogee, Oklahoma AI data centre campus.
The purchase aims to lift the site to 1.5 gigawatts of gross power, with Polaris holding 440 megawatts under an Oklahoma Gas & Electric agreement.
The price could rise by $40 million if 40 more megawatts become available; closing is expected in the third quarter, while a new 82.5-megawatt building is due in 2027.
With AI data centers demanding city-scale power, can rural grids handle the surge without impacting local communities?
As crypto miners race to power AI, is this a brilliant pivot or a high-stakes gamble on an energy-hungry bubble?