10 Stocks Drop Double Digits as Investor Caution Lingers

4. Core Scientific Inc. (NASDAQ:CORZ)

Core Scientific nosedived by 18.19 percent on Thursday to close at $7.85 apiece as investors sold off positions following news that technology giant Microsoft Inc. reduced its commitment with CoreWeave, CORZ’s partner.

According to reports, the decision came after CoreWeave missed deadlines and had issues delivering materials needed to scale its artificial intelligence models.

The report followed CORZ’s announcement of a $1.2 billion investment to expand its data center portfolio to bolster its revenues.

It said that the data center, which would be built in Texas, is expected to rake in some $10 billion in revenues from artificial intelligence operations.

During the fourth quarter of the year, CORZ posted a 36-percent increase in net loss at $265 million from $195.6 million in the same period a year earlier.

Meanwhile, it widened its net loss to $1.3 billion in full-year 2024 from $246 million in 2023.