Cloud infrastructure provider CoreWeave’s developments in Lancaster for an innovation hub that will host computer infrastructure focused on the latest AI applications were included in a $4 billion joint venture partnership that closed on Monday.
The $4 billion investment was included in funds managed by Blue Owl Capital, an asset manager, and the affiliates of Chirisa Technology Parks (CTP), a company focused on the rapid delivery of data facilities, and Machine Investment Group, a real estate investment platform.
The CTP Lancaster campus is planned as an innovation hub for computer infrastructure dedicated to artificial intelligence (AI) applications. It will be nearly twice as energy efficient as traditional data centers.
The site will become part of CoreWeave’s expanding global network of AI data centers, and the company will lease the site as part of its strategy to build future-ready AI infrastructure hubs.
“Our Lancaster development with Blue Owl and Machine Investment Group underscores our partnership’s deep commitment to building sustainable, high-performance digital campuses while creating real opportunity for the communities where we operate,” David Kelly, Managing Director North America at CTP, said. “We believe that the deployment of AI infrastructure goes hand-in-hand with inclusive economic growth — bringing high-quality jobs, educational partnerships, and valuable opportunities for residents and families living in Pennsylvania to participate in the AI ecosystem.”
Blue Owl stated it intends to fund up to $20 billion of developments for CTP. Blue Owl and CTP’s partnership currently supports almost half a gigawatt of new developments in Pennsylvania and Virginia that are cornerstone developments for CoreWeave.
“Pennsylvania’s strategic location and robust infrastructure make it an ideal setting to deploy capital into attractive new data center developments,” Eric Rosenthal, Machine Investment Group managing partner, said.
The companies, in partnership with PPL Electric Utilities, will invest approximately $200 million for local power grid infrastructure improvements.
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