NewsMV
AI colocation became Core Scientific's (CORZ) largest business in the second quarter, with total revenue doubling even as a non-cash accounting charge produced a $1.15 billion net loss.
The print marks the point where the company's infrastructure expansion moved from a development story to the reported revenue leader. The numbers on the tape Revenue doubled in the quarter.
That figure landed alongside a $1.15 billion net loss, attributed to a non-cash accounting charge.
A non-cash item leaves operating cash flow untouched, which means the loss and the revenue figure describe different aspects of the same quarter. The revenue doubling is the operative print for the setup.
Keep reading