Core Scientific secures up to $1 billion in funding from Morgan Stanley.

PANews reported on March 5th that Core Scientific announced the completion of its first tranche of a $364 million (364-day) loan from Morgan Stanley. The initial size is $500 million, with an option to add up to an additional $500 million, bringing the total to a maximum of $1 billion. The loan carries an interest rate of SOFR plus 2.5 percentage points and a term of 364 days. The company plans to use the funds for general corporate purposes related to data center asset development, including equipment procurement, upfront development costs, real estate acquisitions, and acquiring additional power resources to expand data centers, thereby enhancing liquidity and accelerating the deployment of high-density hosting and AI-related infrastructure projects.