Corvex Plans AI Data Center Capacity Expansion

Corvex, Inc. plans to expand its critical IT power capacity from about 1.5 MW to about 8 MW by the end of 2026, the company said in a press release. The expansion covers a capacity increase at its Mid Atlantic data center and operations at a second enterprise data center in the Midwest.

Both sites are expected to be ready for service in the fourth quarter of 2026, with revenue expected to begin in the first quarter of 2027. Corvex expects the deployments to support about 2,000 latest generation GPUs at the Midwest site and about 1,000 additional GPUs at the Mid Atlantic site.

Corvex also secured a right of first refusal for an additional 12.5 MW of critical IT power capacity at the Midwest site, which could bring total capacity above 20 MW if contracted. That capacity is expected to be ready for service in the third quarter of 2027, subject to capital, customer commitments, equipment delivery, utility energization, and permits.

The company secured a $33 million private placement to fund the expansion and continued work on Amplified AI Cloud, Token Factory, and Assured AI. Corvex expects the financing to raise pro forma cash and cash equivalents to about $55 million, compared with $22 million reported as of June 30, 2026.