Interview, Conference Presentation
Mike Mattacola, CBO of CoreWeave: Building the Next Generation of Cloud in Europe
- CoreWeave plans to finalize an all-stock acquisition of Core Scientific within the next six months, incorporating over 1.3 gigawatts of U.S. power capacity with approximately 850 megawatts contracted or online.
- The transaction is designed to eliminate intermediary margins to enhance competitiveness regarding data center costs.
- The company aims to launch GB300 infrastructure shortly after introducing GB200s and H200s, intending to bypass standard six-to-12-month stability testing periods to deploy new systems to customers rapidly.
- In Europe, CoreWeave deployed six data centers within 12 months, surpassing the initial target of three or four, and expanded its regional workforce from zero to roughly 120 employees.
- A seventh European data center is expected to be announced within approximately 90 days, with tens of billions of dollars in infrastructure and capital planned for deployment in the region this year.
- The company plans to deploy Blackwell infrastructure immediately and is prepared to deploy RubinNext for European customers once specific demand is identified.
- CoreWeave anticipates releasing further product announcements within the next month.
- Market consolidation into fewer players is projected over the next couple of years due to the challenges of constructing large-scale AI infrastructure, though CoreWeave is not expected to prioritize M&A activities.
- Talent is predicted to naturally migrate to environments that enable rapid execution, while capital is expected to flow to startups that execute flawlessly and differentiate their products.
- Market leadership is being reinforced by CoreWeave being the first to launch H100, H200, and GB200 chips, with H100 inventory sold out since March 2023 and H200s entering the European market in Q4 of the previous year.
- Building and trusting a team is identified as the most difficult aspect of company formation.
- Europe risks falling further behind in the sector if it pursues total sovereignty in chips, capital, and talent, as these resources are currently insufficient locally.
- Continued French government investment in local companies is expected to reduce the necessity for talent to relocate to the U.S. to secure capital or technical expertise.