AMD signs $14 billion, 15-year data-center lease with Core Scientific

AMD has signed 15-year triple-net leases for roughly 530 megawatts of US AI data-center capacity from Core Scientific, the companies said July 27, 2026. The deal is worth more than $14 billion in potential base contracted revenue.

The leases span five Core Scientific campuses in Texas, Oklahoma, Alabama and Georgia. For Core Scientific, a former bitcoin miner turned data-center operator, the deal roughly doubles its leased AI capacity to about 1.1 gigawatts and locks in a marquee chipmaker as an anchor tenant.

AMD is also taking warrants to buy about 30 million Core Scientific shares and holds reservation rights to add up to about 2 gigawatts of future capacity, which would expand the arrangement to about 2.5 gigawatts. The two will jointly design the physical infrastructure and deploy AMD Instinct GPUs, EPYC processors and its ROCm software stack.

The move deepens a pattern of chipmakers securing their own compute homes rather than leaving it to cloud giants, as AMD presses to close the gap with NVIDIA in AI accelerators.

The revenue figure is a ceiling, not a guarantee. “Potential base contracted revenue” assumes the full term runs and the reservation options are exercised, and most of the capacity is years out. First megawatts at the Pecos, Texas site are expected online in the first half of 2027, with about 265 megawatts live by the end of that year and the rest in 2028.

Whether AMD exercises the reservation rights to reach 2.5 gigawatts by late 2028 will show how serious its bid for AI-compute share has become.