FILE PHOTO: A screen displays the company logo for CoreWeave, Inc., Nvidia-backed cloud services provider, during the company's IPO at the Nasdaq Market, in New York City, U.S., March 28, 2025. REUTERS/Brendan McDermid/File Photo
(Reuters) -CoreWeave plans to spend up to $6 billion on building a new artificial intelligence data center 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 $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 center 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 $20 billion in Pennsylvania to expand its data centers.
The announcement comes a week after CoreWeave agreed to acquire crypto miner Core Scientific in a deal valued at about $9 billion, as it seeks the energy and data center capacity needed to power surging AI demand.
(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Savio D'Souza and Tasim Zahid)
