CoreWeave Announces Significant European Expansion; Commits an Incremental $2.2 Billion to Meet Surging Demand for AI Infrastructure in the Region

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Jun 05, 2024, 01:00 ET

Expansion will bring state-of-the-art NVIDIA Blackwell GPUs and NVIDIA Quantum-2 InfiniBand networking to the region for the first time at scale
Company plans to build three new data centers in Norway, Sweden and Spain by the end of 2025
Follows the opening of CoreWeave's European headquarters in London, two UK data centers and a $1.3 billion UK investment

LONDON, June 5, 2024 /PRNewswire/ -- CoreWeave, the AI Hyperscaler^™, today announced it will invest $2.2 billion to expand and open three new data centers in continental Europe before the end of 2025. This expansion is part of CoreWeave's long-term strategy to provide best-in-class advanced compute solutions, including NVIDIA's Blackwell platform and NVIDIA Quantum-2 InfiniBand networking, for the industry's most innovative technology companies and AI leaders. Today's announcement builds on CoreWeave's previously announced $1.3 billion investment in the UK, bringing the total investment in the region to $3.5 billion.

CoreWeave continues to scale rapidly to meet the surge in global demand for accelerated compute solutions that are critical for training and serving the most sophisticated AI models. The Company's European footprint has been carefully designed to meet the regulatory and operational demands of the region, ensuring low-latency performance across all AI workloads and providing a data-sovereign cloud for both European and UK customers. When combined with CoreWeave's differentiated tech stack, this offering makes CoreWeave the partner of choice for European AI developers, labs and enterprises that are looking to create the most sophisticated AI applications.

This expansion will also help CoreWeave better serve its existing customers who are looking to expand their international footprint and provide critical computing power to accelerate AI progress across the region. The three new data centers will be powered by 100% renewable energy, and will create job opportunities across the region. CoreWeave is hiring across several key roles, including in engineering, operations, finance and go-to-market positions.

"Europe represents the next frontier for the AI industry and is an important milestone in the next phase of CoreWeave's growth," said Mike Intrator, Co-founder and Chief Executive Officer of CoreWeave. "We see enormous opportunity for CoreWeave in Europe – 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. We see this as the first of what we hope to be several significant investments in the region as we continue to activate our vision of being the global AI hyperscaler of choice."

"CoreWeave's investments in Sweden will bolster critical AI infrastructure," said Johan Forssell, Swedish Minister for International Development Cooperation and Foreign Trade. "This is exactly the kind of infrastructure and data power that is a precondition for innovative companies in AI. We need to make sure Sweden and Europe take part in building these facilities in order to put us at the forefront of driving economic growth, innovation and productivity. This is also a huge vote of confidence in the Swedish technology sector and I am proud that the Swedish investment climate is attracting pioneering companies like CoreWeave."

"I am pleased that significant investments into AI infrastructure are being made on Norwegian ground," said Karianne Tung, Norwegian minister of Digitalization. "Hopefully this will contribute to more development and use of AI in Norway. As minister of digitalization, I am optimistic about the power of technology. Commercially based access to AI and supercomputing is one of the ways in which Norwegian business and industry can utilize this technology. Private investment into our technological infrastructure bolsters our position as a hub for technological development and AI. I am confident that this AI initiative will result in synergies between the investors and the thriving AI research and development environments in Norway."

"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," said Jaap Zuiderveld, Vice President of Sales and Marketing for Europe, the Middle East and India at NVIDIA. "NVIDIA's full-stack accelerated computing platform will empower companies with the performance needed to achieve rapid advancements in generative AI at scale."

Today's announcement builds on CoreWeave's significant momentum from the Company's recent UK expansion, $7.5 billion debt financing facility led by Blackstone Tactical Opportunities, a landmark $1.1 billion Series C in May 2024, and a $2.3 billion debt financing facility in August 2023. The three planned new data centers will add to CoreWeave's two data centers based in the UK.

About CoreWeave
CoreWeave, the AI Hyperscaler™, delivers a cloud platform of cutting-edge software powering the next wave of AI. The Company's technology provides enterprises and leading AI labs with the most performant and efficient infrastructure accelerating the next era of computing. Since 2017, CoreWeave has operated a growing footprint of data centers covering every region of the US and across Europe. CoreWeave was ranked as one of the TIME100 most influential companies of 2024. Learn more at www.coreweave.com.

SOURCE CoreWeave