CoreWeave Announces $2.2 Billion Investment in European AI Infrastructure Expansion
CoreWeave, renowned for its AI hyperscaling capabilities, has announced a substantial investment of $2.2 billion to expand its operations with three new state-of-the-art data centers across continental Europe. This strategic move aims to address the surging demand for advanced AI infrastructure in the region.
New Data Centers Across Europe
Locations and Technology:
- Countries: Norway, Sweden, and Spain.
- Completion: By the end of 2025.
- Technology: Equipped with NVIDIA Blackwell GPUs and NVIDIA Quantum-2 InfiniBand networking, marking the first large-scale deployment of these technologies in Europe.
This expansion follows CoreWeave’s recent European initiatives, including the opening of its headquarters in London, the establishment of two UK data centers, and a $1.3 billion investment in the UK. The new investment increases CoreWeave’s total commitment in Europe to $3.5 billion.
Strategic Importance
Global Demand and Compliance:
- AI Infrastructure: CoreWeave’s expansion aligns with its strategy to meet the global demand for accelerated compute solutions necessary for training and deploying sophisticated AI models.
- Regulatory and Operational Compliance: Ensuring low-latency performance and data sovereignty for European and UK customers.
Mike Intrator, Co-founder and CEO of CoreWeave, emphasized the significance, stating, “Europe represents the next frontier for the AI industry and is an important milestone in the next phase of CoreWeave’s growth. CoreWeave’s GPU infrastructure will provide the European cloud market the computing solutions and tools needed to meet the growing demand for next-generation AI applications.”
Commitment to Sustainability and Job Creation
Renewable Energy:
- Sustainability: All new data centers will be powered entirely by renewable energy, aligning with CoreWeave’s commitment to sustainability.
- Job Creation: The expansion is expected to create numerous job opportunities across various roles, including engineering, operations, finance, and marketing positions.
Statements from Officials:
- Johan Forssell, Swedish Minister for International Development Cooperation and Foreign Trade: “CoreWeave’s investments in Sweden will bolster critical AI infrastructure. This is exactly the kind of infrastructure and data power that is a precondition for innovative companies in AI.”
- Karianne Tung, Norwegian Minister of Digitalization: Expressed optimism about AI and supercomputing driving economic growth and innovation in Norway.
Support from Industry Partners
NVIDIA’s Role:
- Jaap Zuiderveld, Vice President of Sales and Marketing for Europe, the Middle East, and India at NVIDIA: Highlighted the importance of NVIDIA’s technologies, stating, “The NVIDIA Blackwell platform and NVIDIA Quantum-2 InfiniBand networking, available through CoreWeave’s platform, will help set a new standard for AI performance in Europe by making supercomputing more accessible.”
CoreWeave’s Recent Momentum
Financial Backing and Expansion:
- Debt Financing Facility: $7.5 billion led by Blackstone Tactical Opportunities.
- Series C Funding: $1.1 billion in May 2024.
- Previous Debt Financing: $2.3 billion in August 2023.
As CoreWeave continues to expand its footprint, these new data centers will further solidify its position as a leader in providing advanced AI infrastructure globally, ensuring robust support for the evolving needs of the AI industry.
