Cloud-Provider CoreWeave Investing $1.6B in Plano Data Center

CoreWeave is preparing a 450,000 square building in Plano, for its new data center facility. It’s expected to be fully operational by December 31, 2023. The $1.6 billion data center is CoreWeave’s first facility in Texas and will support economic activity and job growth in the area.

The company is taking advantage of a tax rebate agreement with Plano. Each year, CoreWeave must show the city that it designated at least $800 million for property improvements to its building to receive the rebate. “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 B. Muns.

CoreWeave builds cloud solutions for compute intensive use cases, including visual effects, rendering, machine learning, artificial intelligence, batch processing and pixel streaming. According to CoreWeave’s website, all services provided are aimed to run 35-times faster and cost 80% less than large, generalized public clouds.