There might be an opportunity for investors with small-cap stock Core Scientific (NASDAQ: $CORZ).
Shares of the cryptocurrency miner and artificial intelligence (A.I.) data centre operator have largely been trading sideways this year (up 0.19%).
However, the year-to-date performance obscures the fact that CORZ stock is up 85% in the last 12 months and up 363% since the company went public in 2024.
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The current consolidation in the share price presents an opportunity for investors looking for a company that provides exposure to both crypto and A.I. and has a big growth runway ahead.
Core Scientific is an American digital infrastructure company that specializes in A.I. data centers, Bitcoin (CRYPTO: $BTC) mining, and A.I. computing.
Founded in 2017, the company provides hosting services and its own A.I. solutions, transitioning toward supporting large-scale A.I. workloads.
It appears to be in the right business, judging by the big move in CORZ stock over the past year. But with a market capitalization of $5 billion U.S., Core Scientific is a small-cap stock.
The company has successfully fended off repeated takeover attempts by rival CoreWeave (NASDAQ: $CRWV), a catalyst that has helped give CORZ stock an added boost.
In March of this year, Core Scientific secured $1 billion U.S. in strategic financing from Wall Street investment bank Morgan Stanley (NYSE: $MS).
The money from Morgan Stanley will be used by Core Scientific to support the development of its own A.I. data centres, according to the company.
In its most recent financial results, Core Scientific disclosed that it sold $175 million U.S. worth of Bitcoin as it pivots more towards A.I. Although the company remains a crypto miner.
Out on its own and with money to spend on it’s A.I. data centre expansion, Core Scientific looks like an interesting small-cap stock to consider.
