CORZ Stock Forecast & Price Target

Core Scientific Inc. demonstrates a strong revenue growth outlook, highlighted by CoreWeave's reported revenue of $1.92 billion in 2024, marking a significant increase from $228 million in 2023 and reflecting 700% year-over-year growth. The robust growth is largely attributed to major clients like Microsoft and Meta, which collectively account for 77% of CoreWeave's revenue, reinforcing its position in the high-performance computing market. Additionally, the company’s expansion in compute access from 360MW to an expected 1.3GW by the end of 2024, coupled with a landmark data center deal projected to generate $1.2 billion in additional revenue, augments its investment case and highlights the strong demand for AI cloud services.

Core Scientific Inc. reported a significant decline in total revenue, which fell to $94.9 million in Q4, representing a 33% decrease year-over-year. The digital asset self-mining segment experienced a 29% drop in revenue, primarily due to a reduction in bitcoin mined, despite a substantial increase in bitcoin prices. Additionally, the company posted a net loss of $265 million for the quarter, highlighting ongoing profitability concerns and a challenging operational environment exacerbated by an unstable demand outlook and repeated delays in its CoreWeave project.