Core Scientific has announced the opening of a credit line from Morgan Stanley, which may reach up to $1 billion. The funds are primarily intended to scale data processing centers, playing a key role in developing infrastructure for artificial intelligence.
This is reported by Business • Media
Loan Terms and Company’s Strategic Plans
According to official information, an agreement has already been signed for a loan of $500 million, which may be increased by the same amount in the future. The term of the credit line is one year, and the interest rate is set based on the SOFR benchmark, which stands at 3.7% as of March 2026, with a margin of 250 basis points.
Core Scientific views these financial resources as an important step towards achieving corporate objectives, with a particular focus on developing data processing centers for artificial intelligence projects.
“With these additional financial capabilities, we can act decisively, directing capital to accelerate project deployment timelines, making us an even more attractive infrastructure provider for our clients,” said the company’s CEO, Adam Sullivan.
Market Impact and Shareholder Reaction
The new loan is linked to Core Scientific’s strategy to expand its presence in the AI sector. Previously, the company announced the possibility of fully selling its bitcoin reserves to finance this direction. However, despite securing significant funds, the company’s shareholders are currently skeptical about the new course — Core Scientific’s shares on the Nasdaq are deeply discounted, and their value has decreased by more than 10% on the five-day chart.
Overall, the professional community views the involvement of major financial institutions in the development of mining and artificial intelligence positively. For Morgan Stanley, this deal also presents an opportunity to strengthen its position in the technology sector. It is worth noting that the bank has previously submitted applications to launch new exchange-traded funds based on cryptocurrencies.