Core Scientific rated Buy at UBS, citing surging AI power demand

UBS initiated coverage of Core Scientific (CORZ) with a Buy rating and a $24 price target. Analysts cite massive demand for data center power driven by artificial intelligence as a primary growth catalyst.

Global data center capacity is expected to triple to meet AI infrastructure needs. Core Scientific is positioned to scale its platform following a significant deal with AMD.

UBS also issued Buy ratings for Cipher Mining (CIFR), TeraWulf (WULF), and Hut 8 (HUT). The bank maintains a positive sector-wide view on crypto miners pivoting power assets toward the high-growth AI market.