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Companies like CoreWeave, backed by Nvidia (NVDA.US), are "splurging" $8.2 billion to build a UK data center.
Generated by AI AgentMarket Intel
Monday, Oct 14, 2024 11:00 pm ET1min read
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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.
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