Macquarie upgraded Core Scientific to Positive.

CoreWeave Merger After Bankruptcy

Macquarie has upgraded the stock rating of Core Scientific from neutral to 'outperform'. Additionally, it raised the target price of the stock to $34. This change occurred after the failure of the CoreWeave merger.

The failure of the agreement with CoreWeave was seen as a positive development for Core Scientific. This situation offers the company more flexibility in renting out its power capacity to artificial intelligence tenants in the near future.

Jefferies noted that signing a new tenant would be a critical step in diversifying revenue and reducing reliance on CoreWeave.