CoreWeave Invests $2.2 Billion in European AI Infrastructure Expansion
Darius Baruo Jun 05, 2024 09:33
CoreWeave announces $2.2 billion investment to expand AI infrastructure in Europe.
CoreWeave, the company renowned for its AI hyperscaling capabilities, has announced a substantial investment of $2.2 billion to expand its operations with three new data centers across continental Europe, according to PRNewswire. This strategic move is aimed at meeting the increasing demand for advanced AI infrastructure in the region.
New Data Centers to Be Established
The expansion will see the establishment of state-of-the-art data centers in Norway, Sweden, and Spain by the end of 2025. These facilities will be equipped with NVIDIA Blackwell GPUs and NVIDIA Quantum-2 InfiniBand networking, marking the first large-scale deployment of these technologies in Europe.
This development follows CoreWeave's recent opening of its European headquarters in London, alongside two UK data centers and a $1.3 billion investment in the UK. With this new investment, CoreWeave’s total commitment in Europe now amounts to $3.5 billion.
Strategic Importance of European Expansion
The rapid scaling aligns with CoreWeave's strategy to cater to the surging global demand for accelerated compute solutions essential for training and deploying sophisticated AI models. The European expansion is designed to meet stringent regulatory and operational requirements, ensuring low-latency performance and data sovereignty for both European and UK customers.
Mike Intrator, Co-founder and CEO of CoreWeave, emphasized the significance of this move, stating, “Europe represents the next frontier for the AI industry and is an important milestone in the next phase of CoreWeave's growth. 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.”
Commitment to Sustainability and Job Creation
The new data centers will be powered entirely by renewable energy, aligning with CoreWeave’s commitment to sustainability. This expansion is expected to create numerous job opportunities across various roles, including engineering, operations, finance, and market positions.
Johan Forssell, Swedish Minister for International Development Cooperation and Foreign Trade, praised the investment, stating, “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, echoed similar sentiments, expressing optimism about the potential of AI and supercomputing to drive economic growth and innovation in Norway.
Support from Industry Partners
Jaap Zuiderveld, Vice President of Sales and Marketing for Europe, the Middle East, and India at NVIDIA, highlighted the role of NVIDIA’s technologies in this initiative. “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,” he said.
CoreWeave’s European expansion builds on its recent momentum, including a $7.5 billion debt financing facility led by Blackstone Tactical Opportunities, a $1.1 billion Series C funding round in May 2024, and a $2.3 billion debt financing facility 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.
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