Corvex, an AI infrastructure developer and operator, has announced that it intends to expand its critical IT power capacity from approximately 1.5 MW today to around 8 MW by the end of 2026 as part of a plan to double capacity at its Mid-Atlantic data center and establish operations at an established enterprise-scale data center in the Midwest.
As outlined in a press release, Corvex is doubling capacity at its Mid-Atlantic data center where it plans to deploy 1,000 more GPUs. At the existing enterprise-scale data center in the Midwest it aims to deploy 2,000 GPUs with both facilities expected to be operational by the end of 2026.
“The scarce input in AI infrastructure is energized power inside a finished building. We have secured more than five times as much of it, with the right to scale to more than 20 megawatts in 2027,” said Jay Crystal, Corvex Co-Chief Executive Officer and Co-Founder.
Corvex has reportedly secured a right of first refusal for 12.5 MW of critical IT power capacity at the Midwest site. Should the company exercise this right and contract for that capacity, total critical IT power capacity at the site could exceed 20 MW.
The company added on LinkedIn that both sites have live utility power which will shorten deployment timelines and reduces risk compared to a greenfield project.
The expansion of Corvex’s operations is being funded with proceeds from a private placement of common stock and Series D Preferred Stock led by Goldman Sachs, Morgan Stanley and Oppenheimer & Co. acting as Joint lead placement agents. The transaction is estimated to generate US$ 33 million in gross proceeds before fees and expenses are accounted for. Aside from expanding critical IT power capacity, the funds will also be used for continued development of Corvex’s Amplified AI Cloud platform, Token Factory and Assured AI offerings. The transaction is expected to close on September 2, 2026.
“As inference volumes grow, enterprises are paying much closer attention to the cost of serving AI at scale,” said Seth Demsey, Corvex Co-Chief Executive Officer and Co-Founder. “The differentiation will be in the infrastructure and security layer beneath the API.”
Corvex has already engaged potential customers and believes there is an opportunity to secure multi-year, take-or-pay commitments at market rates for long-term GPU-as-a-Service contracts. These may also include high-throughput storage and CPU compute services, creating additional revenue opportunities beyond GPU capacity.