CoreWeave's $6 Billion Investment in Pennsylvania AI Data Center Sparks Economic Growth and Power Concerns

CoreWeave to invest $6 billion in Pennsylvania AI center -- targeting up to 300 MW capacity, just days after the governor threatened to pull the state from the grid over skyrocketing demand

The company is building a data center in a net power exporter state. Cloud computing company CoreWeave just announced a $6-billion investment to put up an AI data center with an initial 100 megawatts of capacity that is expected to go as high as 300 megawatts in Lancaster, Pennsylvania. The company says that this project will result in 600 construction jobs and that it will hire up to 175 permanent workers, according to Bloomberg. The announcement comes about a week after Pennsylvania Governor Josh Shapiro threatened to cut off PJM Interconnection, the grid operator that serves 13 states and Washington, D.C., because of soaring electricity prices brought on by the massive demand of AI facilities. This is going to be a massive issue for the other states that rely on PJM, as Pennsylvania is a net exporter of power and, according to the BAI Group, delivers up to 25% of the power supply to states in the Eastern and Midwestern United States. This is the second major announcement for CoreWeave in July, after it acquired Core Scientific last week. The purchase adds 1.21 GW to the AI hyperscaler's capacity, but it's still targeting to build more AI processing muscle because of the massive demand from developers and cloud providers. "We are seeing continued demand for larger and larger installations," CoreWeave CEO Michael Intrator said in an interview with Bloomberg. "Three years ago, there were 10 megawatt facilities. Then they became 100 megawatt facilities. Now the conversation is kind of gravitating toward the gigawatt scale." He also added that he expects the Lancaster site to have its first 100 megawatts of capacity to become available to customers by next year. The unprecedented growth of AI data centers is putting a strain on the national grid, which is why many tech companies are investing in alternative sources like small modular nuclear reactors. However, we don't expect these technologies to come online until the early 2030s, if at all. In the meantime, utility companies are scrambling to bring more power sources online and are even postponing the planned shutdown of older plants just to cope. Other tech companies are becoming more creative in finding their power sources. For example, Elon Musk initially used portable power generators to power his Memphis Supercluster before he got approval for 150 MW from the Tennessee Valley Authority in May this year. Another data center installed a backup power system using old EV batteries, delivering up to 63 megawatt-hours of capacity. Latterly, he confirmed that xAI is buying an entire overseas power plant and shipping it to the U.S.. CoreWeave's announcement might be a strategic move to build a data center in a state that's a net power exporter. This helps the company hedge its bets and ensure that it will have an ample power supply for its operations, an issue that many data center operators face and even affects residential neighborhoods in their vicinity.

CoreWeave to Invest $6 Billion in Pennsylvania AI Data Center

CoreWeave Inc., a provider of AI computing power to companies including OpenAI Inc. and Microsoft Corp., said it plans to invest as much as $6 billion to set up a data center in Lancaster, Pennsylvania, as the firm expands its capacity across the US. CoreWeave expects to develop an initial 100 megawatts of capacity and may expand to 300 megawatts in the future, Chief Executive Officer Michael Intrator said Monday in an interview. Intrator will announce the project Tuesday at a CEO roundtable with President Donald Trump in Pittsburgh. The facility will create 600 construction jobs and 175 permanent positions, he said.

Coreweave stock pops after company announces $6 billion AI data center in Pennsylvania

The commitment includes an initial 100 megawatt data center built in Lancaster, a city about 70 miles west of Philadelphia. The data center will be able to expand to 300 MW. "The demand for high-performance AI compute is relentless," said CoreWeave CEO Michael Intrator in a release, "and CoreWeave is scaling a cloud purpose-built for AI to meet it and strengthen US leadership." The announcement comes as part of the Pennsylvania Energy and Innovation Summit in Pittsburgh hosted by Sen. Dave McCormick, R-Penn., where President Donald Trump, members of his administration and executives are meeting to discuss AI and investment opportunities in the state.

CoreWeave Stock Rises on $6B Commitment to Pennsylvania AI Data Center

CoreWeave (CRWV) shares extended gains this week after the Nvidia (NVDA) partner said it would invest more than $6 billion in a new AI data center in Pennsylvania. The AI cloud provider's stock jumped over 8% to above $143 in early trading Tuesday, building on a 5% gain a day earlier. Shares have more than tripled since CoreWeave went public in March but are down about 14% from last week, when the company announced a $9 billion acquisition of Core Scientific. CoreWeave plans to announce the data center investment as part of a roundtable discussion with President Donald Trump and other lawmakers and industry leaders at the inaugural Pennsylvania Energy and Innovation Summit. "The demand for high-performance AI compute is relentless, and CoreWeave is scaling a cloud purpose-built for AI to meet it and strengthen US leadership," CoreWeave CEO Michael Intrator said. "This data center will accelerate innovation and drive economic growth across the region."

CoreWeave Commits $6 Billion To US AI Infrastructure In Lancaster - CoreWeave (NASDAQ:CRWV)

AI cloud-computing startup CoreWeave CRWV surged on Tuesday after it announced plans to invest up to $6 billion in building a state-of-the-art AI data center in Lancaster, Pennsylvania. The center is designed to support advanced AI applications and strengthen U.S. global competitiveness. Initially sized at 100 megawatts and expandable to 300 MW, the facility will be one of the region's first large-scale AI centers and part of CoreWeave's broader U.S. network of 33 data centers. The company will unveil the project at a CEO roundtable with President Donald Trump during Senator Dave McCormick's Energy and Innovation Summit at Carnegie Mellon University. Also Read: Why CoreWeave's $9 Billion Deal Isn't About Chips The event brings together leaders like Governor Josh Shapiro and Senator John Fetterman to discuss how emerging technologies, including AI, can drive national innovation, economic growth, and security. CoreWeave CEO Michael Intrator emphasized the growing demand for AI compute and said this project would help accelerate innovation while creating high-impact jobs. The data center will generate 600 skilled jobs and scale to 175 permanent roles, with each job expected to spur more local employment. CoreWeave will operate the center in partnership with Chirisa Technology Parks and Machine Investment Group, which will help lead hiring and community engagement efforts. The project reinforces CoreWeave's commitment to scaling next-generation infrastructure in key economic regions like the Mid-Atlantic. Trending Investment OpportunitiesAdvertisementArrivedBuy shares of homes and vacation rentals for as little as $100. Get StartedWiserAdvisorGet matched with a trusted, local financial advisor for free.Get StartedPoint.comTap into your home's equity to consolidate debt or fund a renovation.Get StartedRobinhoodMove your 401k to Robinhood and get a 3% match on deposits.Get Started CoreWeave earns revenue by leasing its high-performance GPU infrastructure to businesses and AI developers for tasks like model training and complex computing. The company secures income through multi-year, upfront contracts in which customers pay for extended access to its AI-optimized cloud platform. CoreWeave stock has gained 225% since its March IPO. However, it has declined by over 23% in the last 30 days. Since May, at least six Wall Street firms (including DA Davidson, Barclays, and Bank of America Securities) have downgraded the stock's rating. In July, at least three firms, including Mizuho, Stifel, and Needham, also downgraded their ratings on the stock, citing concerns over rising capital expenditures tied to its $9 billion all-stock acquisition of Core Scientific CORZ. Price Action: CoreWeave stock traded higher by 8.56% to $143.70 premarket at last check Tuesday. Read Next: Lucid Stock Sinks In 2025: What's Driving The Decline? Image via Shutterstock CRWVCoreWeave Inc$143.108.10%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentumN/AGrowthN/AQualityN/AValue11.57Price TrendShortMediumLongOverviewCORZCore Scientific Inc$13.932.73%Market News and Data brought to you by Benzinga APIs

CoreWeave Invests $6B In 300-Megawatt Data Center In Pennsylvania Amish Country

The initial build-out of the data center will bring 100 megawatts of capacity online, and in doing so, the company says will create one of the largest data centers in the region. The company plans to scale capacity to 300 megawatts and create 600 skilled jobs during the build-out phase of the project. Hyperscaler CoreWeave announced plans for a $6 billion, 300-megawatt data center in Pennsylvania to answer what CEO Michael Intrator called "relentless" demand for AI compute. "The demand for high-performance AI compute is relentless, and CoreWeave is scaling a cloud purpose-built for AI to meet it and strengthen US leadership," Intrator stated in a press release. "This data center will accelerate innovation and drive economic growth across the region. We look forward to working with leaders like Senator McCormick and Governor Shapiro to ensure this investment delivers meaningful, lasting impact." The initial build-out of the data center will bring 100 megawatts of capacity online in the middle of Lancaster, Pa. -- famous for scenic farmland and home to a significant Amish population -- and in doing so create one of the largest data centers in the region, the company said. The Livingston, N.J.-based firm plans to scale capacity to 300 megawatts and create 600 skilled jobs during the build-out phase of the project. [RELATED: Nvidia-Backed AI Startup CoreWeave Sets IPO At $2.7B; OpenAI Will Get $350M In Stock] Once it is completed, the site is expected to employe 175 full-time facility workers, the company stated in a press release. Wall Street approved of the announcement, sending Nvidia-backed CoreWeave's stock up 10.15 points or nearly 8 percent to $142.53. Microsoft -- which accounted for 62 percent of the company's sales in 2024 -- is one of the CoreWeave's largest customers, but it also has commitments from OpenAI to deliver infrastructure worth up to $11.9 billion. OpenAI was also promised $350 million in stock during CoreWeave's IPO, an investment that has already increased in value by 254 percent as of afternoon trading on Tuesday. CoreWeave stated that while it will be the tenant of the Lancaster facility, the development of the campus -- including workforce recruitment and community engagement -- will be completed by Chirisa Technology Parks and Machine Investment Group. This site will increase the supply of AI infrastructure in the mid-Atlantic -- an area that CoreWeave hopes to develop as a strategic hub of AI work -- and add it to the company's 33 other AI data centers, 28 of which are located in the United States. Pennsylvania Gov. Josh Shapiro praised CoreWeave's investment as proof that the commonwealth is moving into a technology-focused future. "CoreWeave's $6 billion investment will continue to build on that work -- creating good-paying jobs as Pennsylvania workers build, maintain, and operate a new AI data center in Lancaster County," Shapiro said in a statement. "My administration is leading the way on safe, responsible, and effective use of artificial intelligence - while keeping people at the center of Pennsylvania's AI strategy." Coreweave is the second big tech vendor to announce a significant amount of money in data center capacity in the Keystone State. Amazon last month said it would pour $20 billion into building cloud computing and AI infrastructure in Pennsylvania.

CoreWeave Makes AI Bet Ahead Of $9B Core Scientific Deal - CoreWeave (NASDAQ:CRWV), Core Scientific (NASDAQ:CORZ)

Core Scientific CORZ gained on Tuesday in solidarity with CoreWeave CRWV after the latter announced plans to invest up to $6 billion in building an AI data center in Lancaster, Pennsylvania. Initially sized at 100 megawatts and expandable to 300 MW, the facility will be one of the region's first large-scale AI centers. CoreWeave's broader U.S. network consists of 33 data centers. The company will unveil the project at a CEO roundtable with President Donald Trump during Senator Dave McCormick's Energy and Innovation Summit at Carnegie Mellon University. Also Read: Why CoreWeave's $9 Billion Deal Isn't About Chips CoreWeave CEO Michael Intrator said the data center will generate 600 skilled jobs and scale to 175 permanent roles. CoreWeave will operate the center in partnership with Chirisa Technology Parks and Machine Investment Group. Trump is reportedly looking to unveil a major initiative on Tuesday near Pittsburgh, Pennsylvania, detailing plans for approximately $70 billion in new investments in artificial intelligence and energy infrastructure. Core Scientific delivers blockchain infrastructure and hosts digital assets, helping cryptocurrency miners improve their efficiency and profits. Trending Investment OpportunitiesAdvertisementArrivedBuy shares of homes and vacation rentals for as little as $100. Get StartedWiserAdvisorGet matched with a trusted, local financial advisor for free.Get StartedPoint.comTap into your home's equity to consolidate debt or fund a renovation.Get StartedRobinhoodMove your 401k to Robinhood and get a 3% match on deposits.Get Started CoreWeave provides specialized cloud computing services focusing on high-performance, GPU-accelerated infrastructure tailored for AI and machine learning. The company operates a cloud platform built to handle large-scale, compute-heavy workloads. It is widely recognized for its deep expertise in deploying Nvidia NVDA GPUs. CoreWeave agreed to acquire Core Scientific in a definitive all-stock merger deal last week. The transaction values Core Scientific at $9 billion, or $20.40 per share. By acquiring Core Scientific's high-performance data center infrastructure, CoreWeave will gain control of approximately 1.3 gigawatts of power capacity, with more than 1 GW available for future expansion. Price Actions: CoreWeave stock is up 4.42% at $14.17 last check on Tuesday. CRWV stock is up 8.13%. Read Next: Nebius Emerges As Neutral AI Cloud Alternative, Deepens Ties With Nvidia, OpenAI, Microsoft: Analyst Image: Shutterstock CORZCore Scientific Inc$14.174.50%Stock Score Locked: Edge Members Only Benzinga Rankings give you vital metrics on any stock - anytime. Unlock RankingsEdge RankingsMomentum66.69GrowthN/AQualityN/AValue17.82Price TrendShortMediumLongOverviewCRWVCoreWeave Inc$143.958.74%NVDANVIDIA Corp$171.194.34%Market News and Data brought to you by Benzinga APIs

Why CoreWeave Stock Was Climbing Today | The Motley Fool

Shares of CoreWeave (CRWV 6.21%), a leader in artificial intelligence (AI) infrastructure, were on the move today after the company announced that it would invest $6 billion to open a new data center in Pennsylvania. The news shows the company continuing to invest in the rapidly growing market, paving the way for new capacity. Additionally, CoreWeave could be benefiting from news that Nvidia will now be allowed to sell its H20 AI chips in China, which benefits a key ally and investor in the company, and paves the way for other companies to do the same, expanding the semiconductor market. The stock closed up 6.2% on the news. CoreWeave has been seeing scorching-hot growth since it pivoted its business model to AI infrastructure, providing computing capacity to companies like Microsoft, Nvidia, and OpenAI, and it needs new data centers to fuel that growth. This morning, CoreWeave said it would commit more than $6 billion for a state-of-the-art data center in Lancaster, Pennsylvania. The announcement will be made at an event with President Trump, with both of its senators and the governor present. The facility will be one of the first large-scale data centers in that region and will have an initial capacity of 100 megawatts, with the potential to expand to 300 MW. Including the Lancaster facility, the company will now have 33 AI data centers, including 28 in the U.S. The AI infrastructure company just wrapped up a quarter where it reported 420% revenue growth, and it's expected to continue to expand at a rapid rate. While CoreWeave may be a long way from profitability, investing in new data centers makes sense when demand is growing this fast.

CoreWeave commits US$6 billion to Pennsylvania data centre amid Trump AI push

CoreWeave plans to spend up to US$6 billion on building a new artificial intelligence data centre in Pennsylvania, as part of a push by U.S. President Donald Trump to maintain the country's edge in the booming technology sector, the company said on Tuesday. Shares of the AI cloud computing firm rose more than 8% in premarket trading. CoreWeave's investment adds to the hundreds of billions of dollars companies have committed to expanding AI infrastructure in the United States, amid growing energy and computational demands and Trump's drive to onshore AI supply chains. The announcement will be made during a CEO roundtable with Trump at Senator Dave McCormick's inaugural Pennsylvania Energy and Innovation Summit, the company said in a statement. Trump is expected to announce US$70 billion in AI and energy investments on Tuesday, Reuters has reported. "The demand for high-performance AI compute is relentless, and CoreWeave is scaling a cloud purpose-built for AI to meet it and strengthen U.S. leadership," said CoreWeave CEO Michael Intrator. The data centre will initially use 100 megawatts (MW) of power, with potential to expand to 300 MW. The project is expected to create about 600 jobs during construction, with about 70 full-time technical and operational positions at launch. Last month, cloud giant Amazon.com said it plans to invest at least US$20 billion in Pennsylvania to expand its data centres. The announcement comes a week after CoreWeave agreed to acquire crypto miner Core Scientific in a deal valued at about US$9 billion, as it seeks the energy and data centre capacity needed to power surging AI demand. ---

CoreWeave Announces Multi-Billion Dollar Commitment to AI Infrastructure in Pennsylvania

CoreWeave (NASDAQ: CRWV), the AI Hyperscaler™, today announced its intent to commit up to $6 billion to equip a new, state-of-the-art data center in Lancaster, Pennsylvania, purpose-built to power the most cutting-edge AI use cases. The initial 100 megawatt (MW) data center, with potential to expand to 300 MW, represents one of the first large-scale data centers of its kind in the region and will support US global competitiveness in AI. The announcement will be made during the CEO roundtable with President Donald J. Trump at Senator Dave McCormick's inaugural Pennsylvania Energy and Innovation Summit, hosted at Carnegie Mellon University in Pittsburgh. The event will include Pennsylvania Governor Josh Shapiro, Senator John Fetterman, as well as national and state leaders, policymakers, industry leaders and innovators, with the aim of shaping the future of US AI infrastructure, energy, job creation, long term national competitiveness and national security through high-impact emerging technologies. "The demand for high-performance AI compute is relentless, and CoreWeave is scaling a cloud purpose-built for AI to meet it and strengthen US leadership," said Michael Intrator, Co-Founder, Chairman of the Board, and Chief Executive Officer of CoreWeave. "This data center will accelerate innovation and drive economic growth across the region. We look forward to working with leaders like Senator McCormick and Governor Shapiro to ensure this investment delivers meaningful, lasting impact." "I'm thrilled to welcome this transformative investment in our great Commonwealth," said Senator Dave McCormick. "This Energy and Innovation Summit is a powerful testament to Pennsylvania's readiness and ability to lead -- to generate thousands of good-paying jobs, to unleash our incredible energy resources, and to power the next AI and economic revolution, further strengthening America's resilience and independence. I'm deeply grateful to CoreWeave for their tremendous commitment to Pennsylvania's future." "Pennsylvania is competing again and bringing in billions of dollars in new investment to the Commonwealth to support our technology sector, and CoreWeave's $6 billion investment will continue to build on that work -- creating good-paying jobs as Pennsylvania workers build, maintain, and operate a new AI data center in Lancaster County," said Governor Josh Shapiro. "My Administration is leading the way on safe, responsible, and effective use of artificial intelligence - while keeping people at the center of Pennsylvania's AI strategy," said Governor Shapiro. "We are ensuring our Commonwealth is open to the major investments like this one from CoreWeave by investing in our workforce, building out more energy resources, securing funding for site development, speeding up the Commonwealth's permitting, licensing, and certification processes, and working to make sure Pennsylvania continues to be a national energy leader. With this commitment, CoreWeave is creating opportunities for our workers, generating new revenue for our local communities, and ensuring the future of AI runs right through Pennsylvania." Equipped with state-of-the-art infrastructure tailored for advanced AI workloads, the Lancaster data center will help position Pennsylvania, and the broader Mid-Atlantic region, as a strategic hub for the global AI economy. The project is expected to create approximately 600 skilled, competitively waged jobs during the build phase, with approximately 70 full-time technical and operational roles at launch, and scaling to approximately 175 over time. It is estimated that each data center job generates over six additional American jobs, amplifying the project's economic impact. The Lancaster data center is the result of CoreWeave's ongoing engagement with policymakers at all levels who share a commitment to strengthening America's AI and energy system through vital investments in US-based infrastructure and policies that enable innovation. CoreWeave will be the tenant of the site, co-developed by Chirisa Technology Parks and Machine Investment Group. The companies will partner on all facets of workforce recruitment and community engagement, establishing a model for regional AI infrastructure that delivers long-term economic growth and community impact. CoreWeave is committed to investing in future-ready AI infrastructure hubs where they are needed most, across America's critical economic corridors, like the Mid-Atlantic, which this site will serve. The Lancaster facility will add to CoreWeave's growing network of 33 AI data centers, including 28 located across the U.S. 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 cloud solutions for accelerated computing. Since 2017, CoreWeave has operated a growing footprint of data centers across the US and Europe. CoreWeave was ranked as one of the TIME100 most influential companies and featured on Forbes Cloud 100 ranking in 2024. Learn more at www.coreweave.com. PwC, "Economic Contributions of Data Centers in the United States," February 2025.

CoreWeave Plans up to $6 Billion Investment in Pennsylvania Data Center

CoreWeave, Inc. is an American technology company founded in 2017, specializing in cloud infrastructure designed for compute-intensive workloads. It has positioned itself as a niche player in a market dominated by generalist giants. Its offering is built on a vertical specialization in artificial intelligence (AI) and related applications, notably high-performance computing (HPC) and graphical rendering. CoreWeave operates a GPU-first architecture, optimized for training and inference of generative AI models. It also targets scientific and financial computing, as well as real-time 3D rendering needs. With its own data centers located in the United States and Europe, the company maintains full control over its infrastructure. This control enables it to deliver high performance, low latency, and flexible deployment capabilities. Some facilities are shared among clients, while others are fully dedicated to a single customer. CoreWeave serves a diverse clientele, ranging from AI startups to research labs, as well as production studios and financial institutions. In addition to its hardware infrastructure, the company develops its own GPU management software. These tools enable intelligent resource allocation, continuous performance optimization, and better cost control. This vertical integration, from hardware to software, enhances the company's competitiveness. CoreWeave stands out through its tailored approach and its ability to meet clients' specific needs. It aims to become the leading provider for AI workloads on a global scale. In a context of surging demand for computing power, its model is appealing due to its specialization and agility.

CoreWeave commits $6 billion to Pennsylvania data center amid Trump AI push

CoreWeave, Inc. is an American technology company founded in 2017, specializing in cloud infrastructure designed for compute-intensive workloads. It has positioned itself as a niche player in a market dominated by generalist giants. Its offering is built on a vertical specialization in artificial intelligence (AI) and related applications, notably high-performance computing (HPC) and graphical rendering. CoreWeave operates a GPU-first architecture, optimized for training and inference of generative AI models. It also targets scientific and financial computing, as well as real-time 3D rendering needs. With its own data centers located in the United States and Europe, the company maintains full control over its infrastructure. This control enables it to deliver high performance, low latency, and flexible deployment capabilities. Some facilities are shared among clients, while others are fully dedicated to a single customer. CoreWeave serves a diverse clientele, ranging from AI startups to research labs, as well as production studios and financial institutions. In addition to its hardware infrastructure, the company develops its own GPU management software. These tools enable intelligent resource allocation, continuous performance optimization, and better cost control. This vertical integration, from hardware to software, enhances the company's competitiveness. CoreWeave stands out through its tailored approach and its ability to meet clients' specific needs. It aims to become the leading provider for AI workloads on a global scale. In a context of surging demand for computing power, its model is appealing due to its specialization and agility.