CoreWeave has unveiled plans to invest $2.2 billion across Europe as part of an expansion scheme that will see the firm build three new data centers.
The expansion, the firm said, will bring state-of-the-art NVIDIA Blackwell GPUs and NVIDIA Quantum-2 InfiniBand networking to the region for the first time at scale.
The company is promising low-latency performance across all AI workloads, along with a data-sovereign cloud for both European and UK customers.
Mike Intrator, co-founder and CEO at CoreWeave, said the latest plans are a signal of intent for the firm in Europe – a market in which it sees “enormous opportunity”.
"Europe represents the next frontier for the AI industry and is an important milestone in the next phase of CoreWeave's growth," he said.
"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."
Meanwhile, the company revealed it plans to build three new data centers in Norway, Sweden, and Spain. These sites will be powered by 100% renewable energy and are due to be completed by the end of 2025.
The company is also hiring for staff spanning engineering, operations, finance, and go-to-market roles.
"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," said Johan Forssell, Swedish minister for international development, cooperation and foreign trade.
"We need to make sure Sweden and Europe take part in building these facilities in order to put us at the forefront of driving economic growth, innovation and productivity. This is also a huge vote of confidence in the Swedish technology sector, and I am proud that the Swedish investment climate is attracting pioneering companies like CoreWeave."
Meanwhile, Karianne Tung, Norwegian minister of digitalization, said the investment bolters the country's position as a “hub for technological development and AI”.
“I am confident that this AI initiative will result in synergies between the investors and the thriving AI research and development environments in Norway,” she said.
CoreWeave is ramping up European operations
The move by CoreWeave marks the company’s latest expansion in Europe. Last month, the firm announced plans to open a new headquarters in London, along with two new UK-based data centers.
The $1.3 billion investment scheme forms part of the company’s broader European expansion drive that’s seen it invest more than $3.5 billion in the region.
The company said it sees London as an important hub, and plans to offer processing power for machine learning and AI, graphics and rendering, life sciences, and real-time streaming applications.
CoreWeave is also promising several more 'significant investments' in Europe, and has previously said that it expects to operate 28 data centers by the end of this year.
It recently raised a $7.5 billion debt financing facility led by Blackstone Tactical Opportunities, along with $1.1 billion Series C fundraising, and a $2.3 billion debt financing facility in August 2023. Altogether, the company has raised over $12 billion in funding.
