Rising Demand for AI, ML, and Streaming Tech Solutions Fuels New $1.6B CoreWeave Data Center in North Texas

Slated to open by December 31, the 450,000-square-foot facility in Plano "will help meet the unprecedented demand for high-performance cloud solutions for artificial intelligence, machine learning, pixel streaming, and other emerging technologies," New Jersey-based CoreWeave's co-founder and CEO said.

CoreWeave, a specialized cloud provider of large-scale GPU-accelerated workloads, has announced a new data center facility in Plano it says will be fully operational by December 31.

The company, a New Jersey-based specialized cloud provider of large-scale GPU-accelerated workloads, said the $1.6 billion data center is CoreWeave’s first facility in Texas and will support economic activity and job growth in the area.

“We’re pleased to partner with Plano and the local community to open this cutting-edge data center and create new jobs,” CoreWeave CEO and co-founder Michael Intrator said in a statement. “The 450,000-square-foot facility will help meet the unprecedented demand for high-performance cloud solutions for artificial intelligence, machine learning, pixel streaming and other emerging technologies that CoreWeave is uniquely positioned to deliver.”

CoreWeave recently announced the opening of a modern data center in New York City that provides ultra-low latency to over 20 million residents across that metropolitan area. In April, CoreWeave announced a $221 million Series B round, followed by $200 million in Series B extension funding for a total of $421 million in capital raised for the round.

“With the demand for machine learning, AI and visual effects/rendering sharply rising, we are thrilled to partner with CoreWeave as the company invests in its first data center in Texas, capable of high-computing solutions for such specialized needs,” Plano Mayor John B. Muns said in a statement.

CoreWeave’s agreement with Plano

Founded in 2017, CoreWeave delivers a massive scale of GPU compute resources on top of the industry’s fastest and most flexible infrastructure, the company said. It builds cloud solutions for compute-intensive use cases—machine learning and AI, VFX and rendering, batch processing and pixel streaming—that it says are up to 35 times faster and 80% less expensive than the large, generalized public clouds.

According to a report in Data Center Dynamics, Coreweave must invest at least $800 million a year for the next two years to be eligible for a tax rebate that the Plano City Council passed. The report notes that in 2025 and 2026, 50% of the total minimum of $1.6 billion spent on improvements will be returned to the company.

Data Center Dynamics reported that the data center is located at 1000 Coit Road and is publicly listed as being owned and operated by Lincoln Property Co.’s Lincoln Rackhouse.

According to the report, the facility was formerly the North American campus for French telecommunications giant Alcatel, before it was sold to Westmount Realty Capital in 2004. The facility then went to Countrywide Financial, which was acquired by Bank of America during the 2008 financial crash, Data Center Dynamics said. Bank of America then sold it during a data center consolidation, and it was taken over in 2018 by Lincoln Rackhouse.

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