The investment represents a milestone in CoreWeave's strategic expansion plan to meet the accelerating demand for premium computing power
PLANO, Texas, July 25, 2023 /PRNewswire/ -- CoreWeave, a specialized cloud provider of large-scale GPU-accelerated workloads, today announced a new data center facility in Plano, Texas, to be fully operational by December 31, 2023. The $1.6 billion data center is CoreWeave's first facility in Texas and will support economic activity and job growth in the area.
"We are pleased to partner with Plano and the local community to open this cutting-edge data center and create new jobs," said CoreWeave CEO and Co-founder Michael Intrator. "The 450,000 square foot facility will help meet the unprecedented demand for high-performance cloud solutions for artificial intelligence, machine learning, pixel streaming and other emerging technologies that CoreWeave is uniquely positioned to deliver," said Intrator.
This news comes on the heels of continued growth for the company. Recently, CoreWeave announced the opening of a modern data center in New York City that provides ultra-low latency to over 20 million inhabitants across the metropolitan area. In April, CoreWeave announced a $221 million Series B round, followed by $200 million in Series B extension funding for a total of $421 million in capital raised for the round.
"With the demand for machine learning, AI and visual effects/rendering sharply rising, we are thrilled to partner with CoreWeave as the company invests in its first data center in Texas, capable of high-computing solutions for such specialized needs," said Mayor of Plano, John B. Muns.
Founded in 2017, CoreWeave is a specialized cloud provider, delivering a massive scale of GPU compute resources on top of the industry's fastest and most flexible infrastructure. CoreWeave builds cloud solutions for compute-intensive use cases — machine learning and AI, VFX and rendering, batch processing and pixel streaming — that are up to 35 times faster and 80% less expensive than the large, generalized public clouds. Learn more at www.coreweave.com.
Brittany Stone (Teneo)