Roseland, N.J.-based cloud-computing startup CoreWeave recently signed a long-term lease at the Northeast Science & Technology (NEST) Center in Kenilworth, N.J. The lease includes the entirety of the 11 NEST building. Formerly a lab and manufacturing property, it will be converted into a state-of-the-art data center.
In 2023, CoreWeave more than quadrupled its data center footprint and is reportedly on track to own 28 data centers globally by the end of this year. The Kenilworth facility will be CoreWeave’s first in New Jersey.
“CoreWeave’s commitment to invest over a billion dollars at the NEST campus demonstrates New Jersey’s leading role in artificial intelligence, and our innovation strategies are working,” said New Jersey Governor, Phil Murphy. “Through collaboration with utilities, government, investors, and real estate developers, we’re committed to attracting businesses that will build an innovation economy for the future. Thanks to PSE&G, Mayor Linda Karlovitch, the development team at Onyx Equities, Machine Investment Group, and CoreWeave, this new data center will further fuel our state’s leadership in innovation.”
The agreement includes a joint effort for the conversion of the 280,000-square-foot property. Specifically, CoreWeave announced plans to invest $1.2 billion. The property owner — a joint venture between Onyx Equities and Machine Investment Group — expects to contribute more than $50 million to the project.
Additionally, PSE&G — New Jersey’s oldest and largest utility that currently serves more than 30 large data centers — will be preparing the area’s electrical infrastructure to support the energy needs of the future data center facility in Kenilworth.
“We are incredibly excited to open a next-generation data center in CoreWeave’s home state of New Jersey,” said CoreWeave CEO and Co-Founder, Michael Intrator. “Governor Phil Murphy’s efforts have helped spur the creation of an AI ecosystem in the state, and CoreWeave’s announcement today underscores that New Jersey is open for AI business.”
11 NEST is part of the 2-million-square-foot campus that’s being redeveloped to serve as a hub for life sciences innovation and data centers. Spanning more than 100 acres, the development looks to meet the need for immediately available, turnkey, and customizable office, laboratory, and biomanufacturing space in the tri-state area. Work began in early 2023 to transform what was previously the global headquarters of Merck into a state-of-the-art hub of research and innovation for the Northeast region.
“This partnership positions the NEST campus as a major hub for data processing, AI, and biopharma innovation,” said John Saraceno, co-founder and managing principal for Onyx Equities. “CoreWeave will be a key cornerstone of NEST as life science and biotechnology tenants at the campus will benefit from CoreWeave’s advanced cloud infrastructure to support their AI-driven projects and boost research and development capabilities.”
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