Core Scientific Secures $500 Million Morgan Stanley Loan With Option to Expand to $1 Billion

Core Scientific obtained $500 million in financing from Morgan Stanley under a 364-day loan agreement as it shifts infrastructure toward AI workloads, The Block reports. The facility includes an accordion feature allowing an additional $500 million expansion, bringing potential total to $1 billion. Core Scientific said it will allocate proceeds to property acquisitions, predevelopment expenses and additional energy contract purchases.