CoreWeave is heading to Asia for the first time. The company, which rents out heavy-duty computing power to businesses, says it will build three data centers in Indonesia.
The combined capacity is 360 megawatts, a measure of how much computing power the centers can handle. That makes this one of the bigger moves in CoreWeave's young history.
The sites are scheduled to go live in 2028. CoreWeave says the project will cost billions, though it is not offering a precise number.
Investors responded with a thumbs up on Tuesday. CoreWeave shares climbed as much as 7% in New York.
At one point, the stock touched $91.75.
The shares had already gained 20% for the year by Monday's close.
CoreWeave went public in 2025 in one of the year's biggest initial public offerings. Since then, it has been spending quickly and lining up financing to bring more centers online while trying to attract customers beyond the usual tech giants.
Indonesia is becoming a magnet for AI infrastructure. Cloud adoption is rising, local data rules keep certain data in the country, and U.S. tech companies are investing heavily.
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Those data rules matter for companies like CoreWeave. If a business wants to serve Indonesian customers, some information has to stay in Indonesia, which means in-country data centers are needed.
Amazon.com Inc. made a $5 billion pledge in 2021 aimed at expanding Indonesia's AI and cloud-computing infrastructure.
Microsoft is committing $1.7 billion by 2028. That spending is expected to support jobs for tens of thousands of people and give Indonesia a bigger role in the region's digital economy.
CoreWeave's new facilities are built for this moment. They are meant for Southeast Asian labs, startups, and larger businesses, plus clients in other regions.
The company also says a locally based team will run the centers. That is a deliberate move to help Indonesia's own data-center industry grow.
Market forecasts show why Indonesia is on CoreWeave's radar. Research and Markets expects Indonesia's data-center market to reach $6.08 billion in 2031, more than double its current size.
CoreWeave is not starting from scratch. It already runs 49 data-center sites across North America and Europe.
Its customer list includes OpenAI, Meta Platforms Inc., and Microsoft Corp. That gives the company a strong group of buyers to build for.
Data-center capacity is measured in units like megawatts and gigawatts. CoreWeave says more than one gigawatt of capacity is already in active use.
Another 3.5 gigawatts are under contract. That backlog is the reason CoreWeave is spending fast and lining up financing to build new supply.
CoreWeave has already sold most of its AI capacity for this year. So the challenge is not finding buyers; it is building quickly enough to serve them.
The Indonesia expansion also shows how CoreWeave intends to grow. Demand for Nvidia Corp.'s AI chips is strong, and the company wants to sell higher-margin software and services on top of the raw computing power.
Technology spending often follows a pattern. First come the chips, then the buildings to hold them, then the software that makes them useful.
The bottom line: For your portfolio, this is less about one stock and more about where the AI build-out heads next. Data centers take years to plan, build, and fill with costly equipment.
A move like this is a long-term bet that demand will still be strong when 2028 arrives. If that bet holds up, the companies that built early could be in a good position.
If it does not, a lot of expensive concrete and chips will be waiting for customers.
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