Companies like CoreWeave, backed by Nvidia (NVDA.US), are "splurging" $8.2 billion to build a UK data center.

The UK government said on Monday that CoreWeave, a cloud computing company backed by Nvidia (NVDA.US), would be one of the companies investing over $8bn in data centers in the UK. ServiceNow (NOW.US), CyrusOne and CloudHQ will invest $823m in the data center sector alongside CoreWeave, according to the UK's Department for Science, Innovation and Technology, with ServiceNow's $1.5bn investment disclosed earlier on Monday.

CyrusOne plans to invest £2.5bn in projects in the country, which are expected to come online in the fourth quarter of 2028. CloudHQ will spend £190m on a new data center in Didcot, Oxfordshire. CoreWeave will invest £750m in artificial intelligence infrastructure.

CoreWeave said last week it had secured a $650m credit facility from several global banks to improve its balance sheet.