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CoreWeave, a data center owner and operator based in Roseland, N.J., plans to invest $1.2 billion into the development of a new data center facility in Kenilworth, roughly 20 miles outside New York City and 35 miles from Princeton, N.J. The facility marks CoreWeave’s first data center in New Jersey, despite the state housing the company’s corporate headquarters.

The company — which trademarks itself as “the AI Hyperscaler” — has signed a full-building industrial lease at 11 NEST, a 280,000-square-foot former lab and manufacturing building within The Northeast Science & Technology (NEST) Center. CoreWeave will convert the industrial building into a new hyperscale data center.