CoreWeave Inc. signage in Times Square in New York, US, on Friday, May 9, 2025.
Coreweave stock climbed more than 9% on Tuesday after the company announced a $6 billion artificial intelligence data center project in Pennsylvania.
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.
"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."
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, members of his administration and executives are meeting to discuss AI and investment opportunities in the state.