Google, Meta, and CoreWeave lead an expected $90 billion wave of AI and energy investments in Pennsylvania, marking a shift toward infrastructure-driven AI growth.

Artificial intelligence (AI) cloud infrastructure provider CoreWeave Inc. (CRWV) announced plans on Tuesday to invest up to $6 billion in a next-generation data center in Lancaster, Pennsylvania, as part of a broader effort to strengthen the U.

By spotlighting this project at a White House?backed summit, CoreWeave is cementing Pennsylvania's place as a hub for AI infrastructure and sparking fresh interest in regional economic development.

CoreWeave announces plans to invest $6 billion in building AI data center in Pennsylvania, boosting innovation and creating jobs.

The stock closed up 6.2% on the news. CoreWeave has been seeing scorching-hot growth since it pivoted its business model to AI infrastructure, providing computing capacity to companies like Microsoft, Nvidia, and OpenAI, and it needs new data centers to fuel that growth.

Argus initiated its coverage on the hyperscaler CoreWeave (NASDAQ:CRWV) with a Buy rating due in part to its ability to take advantage of the searing demand for artificial intelligence infrastructure.

CoreWeave (NASDAQ:CRWV) stock rose 6.3% in pre-market trading after the AI Hyperscaler announced plans to invest up to $6 billion in a new state-of-the-art data center in Lancaster, Pennsylvania.

CoreWeave will unveil the project at a CEO roundtable with Trump during an Energy and Innovation Summit at Carnegie Mellon University.

CoreWeave was founded as Atlantic Crypto, an Ethereum miner, but pivoted its business model in the crypto winter of 2018-2019 when crypto mining fell on hard times and it discovered that the idle GPUs it owned could be rented out instead as computing capacity to run AI applications and models.

CoreWeave’s CEO said the acquisition will enhance the company’s performance and expertise as they "continue helping customers unleash AI’s full potential."

CoreWeave Inc. is expanding a data center that is projected to double the electricity needs of a city near Dallas, another example of the strains that artificial intelligence workloads are placing on the US power supply.