CoreWeave Inc. signage in Times Square in New York, US, on Friday, May 9, 2025. <\/p>\n
Yuki Iwamura | Bloomberg | Getty Images<\/p>\n
Coreweave<\/a> stock climbed more than 9% on Tuesday after the company announced a $6 billion artificial intelligence<\/a> data center project in Pennsylvania<\/a>.<\/p>\n The commitment includes an initial 100 megawatt data center built in Lancaster, a city about 70 miles west of Philadelphia. The data center will be able to expand to 300 MW.<\/p>\n “The demand for high-performance AI compute is relentless,” said CoreWeave CEO Michael Intrator in a release, “and CoreWeave is scaling a cloud purpose-built for AI to meet it and strengthen US leadership.”<\/p>\n The announcement comes as part of the Pennsylvania Energy and Innovation Summit in Pittsburgh hosted by Sen. Dave McCormick, R-Penn., where President Donald Trump<\/a>, members of his administration and executives are meeting to discuss AI and investment opportunities in the state.<\/p>\n Google<\/a> announced a $25 billion data center<\/a> and AI infrastructure deal Tuesday in conjunction with the summit, and pledged $3 billion to upgrade two hydropower plants in Pennsylvania.<\/p>\n CoreWeave, which rents out access to Nvidia<\/a> AI chips, has been on a tear since it went public at the end of March. Shares opened at $39 and are up more than 250% since then.<\/p>\n The company announced a $9 billion acquisition<\/a> of data center infrastructure provider Core Scientific<\/a> last week, a deal that will boost CoreWeave’s access to power and real estate.<\/p>\n