AI hyperscaler CoreWeave has announced a significant $2.2 billion investment to establish three new data centers across Europe, with locations planned in Sweden, Norway, and Spain by the end of 2025. This strategic move follows CoreWeave's recent expansion in the UK and marks a major step in its growth trajectory, fuelled by substantial financial backing. The company secured 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. With over $12 billion in funding amassed to date, CoreWeave is rapidly scaling to meet the increasing global demand for accelerated compute solutions, crucial for developing and deploying sophisticated AI models.
The new data centres will complement CoreWeave’s existing two UK-based facilities, enhancing its ability to deliver advanced compute solutions, including NVIDIA’s Blackwell platform and NVIDIA Quantum-2 InfiniBand networking. CoreWeave’s European expansion aims to address regional regulatory and operational requirements while ensuring low-latency performance for AI workloads. The centers will offer a data-sovereign cloud solution for European and UK customers, emphasizing the company’s commitment to meeting local needs.
These new facilities will be powered entirely by renewable energy, reinforcing CoreWeave's dedication to sustainability. The investment is also expected to create job opportunities across the region, contributing to economic growth.
"Europe represents the next frontier for the AI industry and is an important milestone in the next phase of CoreWeave’s growth," said Mike Intrator, Co-founder and CEO of CoreWeave. "Our GPU infrastructure will equip the European cloud market with the computing solutions and tools needed to meet the growing demand for next-generation AI applications."
Swedish Minister for International Development Cooperation and Foreign Trade, Johan Forssell, expressed strong support for the initiative, stating, "CoreWeave’s investments in Sweden will bolster critical AI infrastructure. We need to ensure that Sweden and Europe play a key role in building these facilities to drive economic growth, innovation, and productivity."
