BlokchainB

AI factory Core Scientific (NASDAQ: CORZ) 

 a $500 million commitment from JPMorgan Chase Bank on Monday to bring its total available loan to $1 billion.

Share of CORZ rose modestly in pre-trading hours, up 1.5% to $16.10.

The 364-day loan utilizes an accordion feature to expand the financing capacity. Morgan Stanley 

 a $500 million commitment earlier in March.

Borrowings under the loan carry an interest rate based on the Secured Overnight Financing Rate plus 2.50%. Core Scientific will allocate the funds toward data center development.

Stacker_Stocks

> AI factory Core Scientific (NASDAQ: CORZ) [secured](https://investors.corescientific.com/news-events/press-releases/detail/130/core-scientific-expands-strategic-financing-facility-to-1-billion-with-additional-500-million-commitment-from-j-p-morgan) a $500 million commitment from JPMorgan Chase Bank on Monday to bring its total available loan to $1 billion.
>
> Share of CORZ rose modestly in pre-trading hours, up 1.5% to $16.10.
>
> The 364-day loan utilizes an accordion feature to expand the financing capacity. Morgan Stanley [provided](https://blockspace.media/insight/core-scientific-secures-1-billion-loan-from-morgan-stanley-amid-ai-pivot/) a $500 million commitment earlier in March.
>
> Borrowings under the loan carry an interest rate based on the Secured Overnight Financing Rate plus 2.50%. Core Scientific will allocate the funds toward data center development.
>
> [**...read more at blockspace.media**](https://blockspace.media/insight/core-scientific-expands-loan-to-1-billion-with-jpmorgan-commitment/)