Core Scientific Raises $3.3 Billion in Secured Notes

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Core Scientific Inc ( (CORZ) ) has shared an update.

On May 6, 2026, Core Scientific’s subsidiary Core Scientific Finance I LLC completed a $3.3 billion private issuance of 7.750% senior secured notes due 2031, priced at 99.25% of par and guaranteed by its key datacenter entities. The notes are secured by first-priority liens over substantially all of the issuer’s and guarantors’ assets and equity, with semi-annual amortization and standard redemption, repurchase and covenant protections for creditors.

The transaction is expected to generate about $3.24 billion in net proceeds, initially funding a debt service reserve and then being upstreamed to Core Scientific to refinance its delayed-draw bridge facility in full, which was repaid and terminated on May 6, 2026. The new long-dated financing structure, supported by a completion guarantee for several major datacenter projects, strengthens the company’s capital base and ringfences key HDC infrastructure for noteholders while freeing Core Scientific from short-term bridge debt obligations.

The most recent analyst rating on (CORZ) stock is a Buy with a $28.00 price target. To see the full list of analyst forecasts on Core Scientific Inc stock, see the CORZ Stock Forecast page.

Spark’s Take on CORZ Stock

According to Spark, TipRanks’ AI Analyst, CORZ is a Neutral.

CORZ scores below average primarily due to weak financial performance—persistent losses, negative equity, heavy debt, and a recent return to sharply negative free cash flow. Technicals are a meaningful positive with strong trend/momentum, while the earnings call and recent corporate actions support the AI colocation growth narrative but still carry notable execution, customer concentration, and control-risk overhangs.

To see Spark’s full report on CORZ stock, click here.

More about Core Scientific Inc

Core Scientific, Inc., listed on Nasdaq as CORZ, designs, builds and operates large-scale, purpose-built data centers focused on high-density colocation services. The company provides digital infrastructure, software solutions and services to third-party customers, and is shifting from self-mined digital assets toward colocation-driven revenue by repurposing remaining facilities to support its HDC business across multiple U.S. states.

Core Scientific operates data center facilities in Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma and Texas. Historically reliant on earning digital assets for its own account, the group is rapidly increasing revenue from high-density colocation and is positioning itself as a premier provider of digital infrastructure for clients requiring high-capacity, power-intensive computing.

The company’s footprint includes multiple campuses across the southern and central United States, including three in Texas, supporting its strategy to scale HDC services. As it transitions its asset base toward colocation, Core Scientific is investing in the development and construction of new datacenters in markets such as Dalton, Denton, Marble and Muskogee, backed by project-specific financing structures.

Average Trading Volume: 12,523,978

Technical Sentiment Signal: Buy

Current Market Cap: $6.66B

See more data about CORZ stock on TipRanks’ Stock Analysis page.