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$1.6 Billion Data Center Planned For Plano, Texas

The facility is expected to open by December 2023
Screen Shot 2023-07-25 at 11.32.38 AM
Photo: CoreWeave

On July 25, 2023, CoreWeave, a leading cloud provider specializing in handling large-scale GPU-accelerated workloads, revealed their plans to launch a state-of-the-art data center facility in Plano, Texas. 

According to a statement by CoreWeave, the facility is expected to run at full capacity by December 31, 2023. The $1.6 billion data center is the company's first in Texas.

"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," said Mayor of Plano, John Muns.

Following a period of sustained expansion, CoreWeave also unveiled another development. Not long ago, the company inaugurated a cutting-edge data center in New York City, delivering ultra-low latency services to over 20 million residents throughout the metropolitan region. This achievement was followed by a significant financial milestone in April 2023, as CoreWeave secured $221 million in Series B funding, the second round of funding for a business through investment. Subsequently, they obtained an additional $200 million in Series B extension funding, bringing the total capital raised for this round to $421 million.

"We are pleased to partner with Plano and the local community to open this cutting-edge data center and create new jobs," said CoreWeave CEO and Co-founder Michael Intrator. "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, established in 2017, distinguishes itself as a specialized cloud provider that offers an extensive array of GPU compute resources. Leveraging the industry's most adaptable infrastructure, CoreWeave crafts cloud solutions tailored for compute-intensive applications. 

These include machine learning and AI, VFX and rendering, batch processing and pixel streaming. Their solutions boast performance, outpacing large, generalized public clouds by up to 35 times in speed while being cost-effective, with savings of up to 80%.