After 300% Stock Rally, Jefferies Says This Bitcoin Miner Has More Room To Run Up On AI Demand
In a recent development, leading financial services firm Jefferies has commenced coverage of Bitcoin miner Core Scientific Inc. (NASDAQ:CORZ) with a ‘Buy’ rating, underscoring its potential to leverage the burgeoning demand for artificial intelligence (AI).
What Happened: Jefferies analysts were optimistic about Core Scientific’s prospects, citing its robust power supply and data center development team as key factors in its ability to meet the escalating AI demand, Coindesk reported Monday. Consequently, the bank has initiated coverage of the stock with a buy rating and a $19 price target.
Jefferies analysts Jonathan Petersen and Jan Aygul highlighted the company’s 12-year contract with Nvidia-backed cloud provider CoreWeave to provide infrastructure for AI use cases …
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