Core Scientific Adds Industry Veteran Steve Smith to Board
Memorial Day Sale – Claim 70% Off TipRanks
- Unlock trusted, data-backed investing tools with TipRanks Premium, from analyst ratings and forecasts to breaking news and portfolio analysis.
- Discover high-conviction stock picks and new investing opportunities with the TipRanks Smart Investor Newsletter
Core Scientific Inc ( (CORZ) ) has issued an announcement.
On May 26, 2026, Core Scientific announced the appointment of Steve Smith to its Board of Directors and its Nominating and Corporate Governance Committee, effective immediately. Smith, currently CEO of Zayo Group and former CEO and president of Equinix, brings more than 35 years of leadership in data centers and digital infrastructure, including overseeing Equinix’s expansion from roughly $400 million to over $4 billion in annual revenue and integrating more than 20 acquisitions.
The board has determined Smith to be an independent director under Sarbanes-Oxley and Nasdaq listing standards, and he will receive cash and equity compensation consistent with other non-employee directors. Executives highlighted that his experience and industry relationships are expected to support Core Scientific’s large multi-site AI infrastructure build-out and its strategic shift from crypto mining toward high-density colocation, reinforcing the company’s position in the accelerating high-performance compute market.
The most recent analyst rating on (CORZ) stock is a Buy with a $37.00 price target. To see the full list of analyst forecasts on Core Scientific Inc stock, see the CORZ Stock Forecast page.
Spark’s Take on CORZ Stock
According to Spark, TipRanks’ AI Analyst, CORZ is a Neutral.
The score reflects a high-risk turnaround: improving operations and liquidity signals (positive EBITDA and stronger operating cash flow) and strong price momentum are counterbalanced by a highly stressed balance sheet (negative equity, higher leverage), extremely large net losses, and ongoing negative free cash flow. Earnings call guidance was constructive, but execution and financing risks remain significant given the capital intensity.
To see Spark’s full report on CORZ stock, click here.
More about Core Scientific Inc
Core Scientific, Inc. is a U.S.-based leader in designing, building and operating large-scale, purpose-built data centers for high-density colocation services, particularly supporting artificial intelligence-related workloads. The majority of its revenue comes from high-density colocation, with additional income from earning digital assets and providing digital asset mining hosting services, as it continues repurposing remaining mining facilities toward colocation.
The company operates a geographically diversified footprint of data center facilities across Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma and Texas. Positioned as a premier provider of digital infrastructure, software solutions and services for third-party customers, Core Scientific is focused on scaling AI-focused infrastructure and long-term power infrastructure capabilities in the high-performance compute market.
On May 26, 2026, Core Scientific announced the appointment of Steve Smith to its Board of Directors and its Nominating and Corporate Governance Committee, effective immediately. Smith, currently CEO of Zayo Group and former CEO and president of Equinix, brings more than 35 years of leadership in data centers and digital infrastructure, including overseeing Equinix’s expansion from roughly $400 million to over $4 billion in annual revenue and integrating more than 20 acquisitions.
The board has determined Smith to be an independent director under Sarbanes-Oxley and Nasdaq listing standards, and he will receive cash and equity compensation consistent with other non-employee directors. Executives highlighted that his experience and industry relationships are expected to support Core Scientific’s large multi-site AI infrastructure build-out and its strategic shift from crypto mining toward high-density colocation, reinforcing the company’s position in the accelerating high-performance compute market.
Average Trading Volume: 13,900,407
Technical Sentiment Signal: Buy
Current Market Cap: $8.03B
Find detailed analytics on CORZ stock on TipRanks’ Stock Analysis page.
