CoreWeave, which rents out access to Nvidia AI chips, has been on a tear since it went public at the end of March.

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.

The massive Livingston, N.J.-based hyperscaler CoreWeave announced plans for a $6 billion, 300-megawatt data center in Lancaster, Pa., to answer what CEO and co-founder Michael Intrator called “relentless” demand for AI compute.

CoreWeave announces plans to invest $6 billion in building AI data center in Pennsylvania, boosting innovation and creating jobs.

CoreWeave shares extended gains this week after the Nvidia partner said it would invest more than $6 billion in a new AI data center in Pennsylvania.

CoreWeave (NASDAQ:CRWV) stock rose 6.3% in pre-market trading after the AI Hyperscaler announced plans to invest up to $6 billion in a new state-of-the-art data center in Lancaster, Pennsylvania.

CoreWeave will unveil the project at a CEO roundtable with Trump during an Energy and Innovation Summit at Carnegie Mellon University.

CoreWeave and Blackstone to invest a combined $31 billion in new Pennsylvania data centers, creating jobs and boosting AI infrastructure.

CoreWeave’s CEO said the acquisition will enhance the company’s performance and expertise as they "continue helping customers unleash AI’s full potential."

Argus initiated its coverage on the hyperscaler CoreWeave (CRWV) with a Buy rating due in part to its ability to take advantage of the searing demand for artificial intelligence infrastructure.

CoreWeave could be the biggest IPO of 2025. Through July, AI infrastructure specialist CoreWeave (NASDAQ: CRWV) has been the biggest initial public offering (IPO) of the year. CoreWeave's actual public offering was a disappointment.