10 AI News Investors Should Not Miss

8. Core Scientific, Inc. (NASDAQ:CORZ)

Number of Hedge Fund Holders: 53

Core Scientific, Inc. (NASDAQ:CORZ) is a leader in artificial intelligence and Blockchain technologies, offering digital asset mining services in North America. Not only does the company offer blockchain infrastructure, software solutions, and services; and operates data center mining facilities, but also mines digital assets for its own account; and provides hosting services for other large Bitcoin miners.

On Monday, October 28, Jefferies started coverage of Core Scientific (NASDAQ:CORZ) with a “Buy” rating and a $19 price target. Analysts highlight the company’s strategic shift from solely bitcoin mining to data center hosting. Jefferies analyst Jonathan Petersen believes that the company’s extension of its 12-year hosting contract with hyperscaler CoreWeave is a major driver.

“We expect that many big tech companies will be closely watching the CoreWeave developments and successful execution will convince decision makers to sign future development leases with CORZ”.

-Petersen wrote in a letter to clients.