Core Scientific, Inc. (Nasdaq: CORZ) announced on March 23, 2026, that it has successfully closed an additional $500 million commitment from JPMorgan Chase Bank, N.A. under the accordion feature of its existing 364-day credit facility. This brings the total funded commitments under the facility to $1 billion, which includes a previously announced $500 million commitment from Morgan Stanley. The company intends to utilize the proceeds from this financing for general corporate purposes related to the development of its data center assets, including equipment purchases, pre-development costs, and real property acquisitions. The financing will bear interest at a rate of the Secured Overnight Financing Rate (SOFR) plus 250 basis points. Adam Sullivan, CEO of Core Scientific, expressed pride in securing commitments from both Morgan Stanley and JPMorgan, stating that the increased financing capacity positions the company well to execute its development and go-to-market strategy amidst strong demand. The company is focused on deploying capital to accelerate infrastructure delivery and meet the growing demand for its services. Core Scientific is a leader in digital infrastructure for high-density colocation services and is transitioning many of its facilities to support artificial intelligence-related workloads. The company expects to increase revenue from high-density colocation services significantly in the near future.

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