CORZ secures up to $1 billion loan facility from Morgan Stanley

Core Scientific (CORZ), a digital infrastructure provider, has secured up to $1 billion in strategic financing from Morgan Stanley to support its data center infrastructure development. The company initially closed a $500 million, 364-day loan facility, which includes an accordion feature allowing total commitments to expand by another $500 million, subject to standard conditions. Borrowings under this facility will bear interest at SOFR plus 2.50%. CEO Adam Sullivan stated that the capital will enable the company to accelerate projects nearing service readiness to meet growing customer demand. The funds are earmarked for general corporate purposes related to data center development, including equipment purchases, early-stage project costs, land acquisitions, and securing energy supply agreements. This financing announcement follows Core Scientific's recent disclosure that it sold $175 million in bitcoin as it shifts focus toward AI infrastructure.

(Source：CoinDesk)