July 15 – CoreWeave (CRWV, Financial) shares climbed about 6% in Tuesday's premarket trading after the company said it will invest up to $6 billion to build an AI data center in Lancaster, Pa.
The announcement came during a CEO roundtable with former President Donald J. Trump at Senator Dave McCormick's inaugural Pennsylvania Energy and Innovation Summit at Carnegie Mellon University in Pittsburgh.
The first phase of the facility will deliver 100 megawatts (MW) of power for generative AI workloads, with room to expand to 300 MW. It stands as one of the region's earliest large‑scale data centers dedicated to high‑performance computing and could help position Pennsylvania as a strategic AI hub.
Construction is expected to create about 600 skilled jobs during the build-out, with roughly 70 full‑time technical and operational roles at launch, scaling to around 175 over time.
Since its late‑March IPO at $40 per share, CoreWeave's stock has more than tripled, peaking at $183.58 on June 20 before pulling back. Separately, Cisco Systems (CSCO, Financial) recently disclosed a 1.06 million‑share stake in the company. Investors will watch whether the new capacity drives revenue growth and strengthens CoreWeave's foothold in the AI infrastructure market.
