Why Core Scientific, Inc. (CORZ) Went Up on Thursday

We recently compiled a list of the 10 Firms Stayed Strong Amid Market Bloodbath. In this article, we are going to take a look at where Core Scientific, Inc. (NASDAQ:CORZ) stands against the other stocks.

The stock market ended in a bloodbath on Thursday, with all major indices finishing in the red, as investors turned cautious anew over President Donald Trump’s tariff imposition on goods from more countries.

The Dow Jones dropped by 0.45 percent, while the S&P declined 1.59 percent. Nasdaq, on the other hand, lost 2.78 percent.

On Thursday, Trump threatened to slap EU products with a 25-percent tariff, following his announcement on Wednesday of another month of delay for the imposition of taxes on goods from Mexico and Canada.

Meanwhile, ten companies defied broader market pessimism, posting strong gains during the day.

To come up with Thursday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A software developer creating a stunning user interface for a digital infrastructure platform.

Core Scientific, Inc. (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) grew its share prices by 6.89 percent on Thursday to finish at $10.71 apiece as investor sentiment was fueled by news that it would invest $1.2 billion to expand its data center portfolio to bolster its revenues.

According to Core Scientific, Inc. (NASDAQ:CORZ), the data center, which would be built in Texas, is expected to rake in some $10 billion in revenues from artificial intelligence operations. It partnered with AI startup CoreWeave for the project.

During the fourth quarter of the year, Core Scientific, Inc. (NASDAQ: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.

Overall CORZ ranks 9th on our list of Thursday’s top gainers. While we acknowledge the potential of CORZ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as CORZ but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.