CoreWeave partner EcoDataCenter racks up half a billion dollars to build more sustainable buildings for AI

EcoDataCenter, a Swedish company that builds eco-friendly data centers used by major compute providers to handle their AI traffic, has raised nearly half a billion dollars — $478 million (€450 million) to be exact — in anticipation of more demand. The equity funding, which is coming from a group of unnamed institutional investors, will be used to continue developing new technologies for more “green” data centers and to build those structures. The news comes just two days after one of EDC’s major customers, the AI compute giant CoreWeave, filed for an IPO in the United States. EDC has now raised €910 million ($966 million) in equity to date. Areim, the holding company that owns it, declined to say what the company’s valuation is. The company did confirm that spinning out EDC is not on the cards. “We are focused on scaling EcoDataCenter and delivering long-term value, supported by the strong backing of our investors,” said Robert Björk , an investment manager for Areim, and board mem ... Read full article.