CoreWeave Plano

CoreWeave's latest addition to its infrastructure portfolio is the Plano, Texas data center, a state-of-the-art facility that became operational at the end of 2023. With an investment of $1.6 billion, the center occupies 454,421 square feet on a 23.8-acre campus located at Lincoln Rackhouse's 1000 Coit Road building. This strategic location is poised to serve as a hub for technological growth and innovation.

The data center is designed with scalability and future expansion in mind, featuring four 14,000-square-foot data halls and an additional 50,000 square feet of powered shell space. CoreWeave's facility is equipped to handle up to 30 megawatts of critical IT load, structured in multiple phases to allow for necessary electrical and mechanical upgrades.

Financially, the partnership between CoreWeave and Lincoln Property Company is cemented through a 6-year Master Services Agreement, with a base rent of $75 per kilowatt per month, amounting to over $260 million for the initial 30 MW installation. The agreement also includes two 2-year renewal options, potentially extending the contract to a decade, with an estimated additional $180.4 million in payments. Tax incentives and abatements from the City of Plano have resulted in approximately $141 million in tax benefits, underscoring the economic significance of this venture for both entities.