CoreWeave enters Asian market with data centers in Indonesia

CoreWeave is opening its first data centers in Indonesia, marking the company’s debut in the Asian market. For a company that was literally called Atlantic Crypto when it was founded in 2017, the move represents the latest chapter in one of tech’s more dramatic identity pivots. From crypto mines to AI empires CoreWeave launched as Atlantic Crypto in 2017, mining cryptocurrency with GPU clusters. By 2019, the founders renamed the company, pivoting hard toward AI-focused cloud computing services. CoreWeave reported revenues of $2.1 billion in Q1 2026, a 112% year-over-year increase. The company now sits on a revenue backlog of $99.4 billion, driven almost entirely by insatiable demand for AI computing power. CoreWeave joined the Nasdaq-100 index on June 22, 2026. Multi-year contracts with Meta and Anthropic, both announced in 2026, have given the company a level of revenue visibility that most cloud providers would envy. The Southeast Asia play In prior filings, the company has emphasized its preference for building in US-allied regions, explicitly citing geopolitical considerations as a factor in site selection. Indonesia, a member of ASEAN and a significant US trading partner, fits...