Jackson Peak Capital on Core Scientific
Thesis
CORZ is a key beneficiary of the compute shortage, possessing valuable, shovel-ready data center co-location capacity that is in short supply. With a foundational $10 billion contract with CoreWeave and a 1.5 GW power pipeline, the company's value is expected to be re-rated as it secures additional colocation customers throughout 2026, diversifying its revenue and reducing concentration risk.
“CORZ is a beneficiary of the compute shortage as it has valuable data center co-location capacity, which is structurally short of supply heading into the remainder of 2026 as the leading AI labs and hyperscalers all look for power and shovel-ready sites. CORZ is one of the few public companies with shovel-ready capacity at scale.”
Key risks
- execution
- the pace of new customer signings
- the broader AI spending cycle