AMD Signs 15-Year Data Center Leases With Core Scientific

AMD signed 15-year leases for 530 megawatts across five Core Scientific data centers in Texas, Georgia, Oklahoma, and Alabama, per Data Center Dynamics.

The base agreement guarantees Core Scientific $14 billion in revenue over the lease terms. AMD also holds an option to expand the footprint to 2.5 gigawatts.

185MW is in Pecos, Texas, and 110MW is in Hunt County, Texas. Dalton, Georgia gets 120MW, Muscogee, Oklahoma gets 82MW, and Auburn, Alabama gets 32MW. Delivery starts in the first half of 2027 at Pecos and Auburn, with the full build-out finished by the end of 2028. AMD also picked up market-priced warrants on Core Scientific stock as part of the deal.

This capacity isn't for AMD's own use. It's for whoever buys AMD's Instinct GPUs and EPYC CPUs. AMD isn't leasing five data centers to train its own models. It's leasing them so its chip customers have somewhere to run the hardware they're buying.

The real bet

That reframes the deal. AMD is betting it can fill 530 megawatts, and eventually 2.5 gigawatts, with customers who want Instinct GPUs, not whatever accelerator is cheapest that quarter. If that demand doesn't show up, AMD is on the hook for leased capacity nobody's using. If it does, this lease becomes proof that Instinct has real buyers, not just a roadmap promise.

The lease became public July 28, and the first megawatts won't land until 2027 at the earliest.