12 Must-See AI News and Ratings You Might Have Missed

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

Number of Hedge Fund Holders: 58

Core Scientific, Inc. (NASDAQ:CORZ) has transitioned into an AI business by leveraging advanced infrastructure and expertise in HPC (high-performance computing). On January 30, analyst Gautam Chhugani from Bernstein maintained a “Buy” rating on the stock and kept the price target at $17.00. Chhugani’s buy rating reflects Core Scientific’s strategic positioning in the AI and Bitcoin mining landscape. Even though it recently faced a setback, it is in a good position to benefit from AI-focused initiatives leveraging its robust infrastructure. The company has reaffirmed its position as a hyperscaler with its readiness in power access and strategic partnerships with cloud partners such as CoreWeave. Moreover, its growth potential is supported by its ability to develop hybrid data centers within a limited time frame. The firm also noted that the company’s ambitions to enhance power capacity reflect its leadership in the sector. As such, the stock’s current valuation aligns more closely with Bitcoin mining rather than data center valuations. This is an attractive investment opportunity considering 70% of Core Scientific’s capacity is dedicated to AI.

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