Corvex is set to increase its critical IT power capacity across its US data centre footprint, aiming to raise total capacity from roughly 1.5MW to nearly 8MW by the end of 2026.
The expansion involves increasing capacity at the company’s Mid-Atlantic site and introducing operations at a second enterprise data centre in the Midwest.
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Both sites are expected to be ready for service in the fourth quarter (Q4) of 2026, with revenue from these deployments anticipated to commence in the first quarter (Q1) of 2027.
The upgrades will support the deployment of about 3,000 new, latest-generation graphics processing unit (GPUs), split between the two locations, enhancing the infrastructure for AI workloads.
The Midwest data centre is scheduled to house around 2,000 GPUs, while the Mid-Atlantic site will accommodate nearly 1,000 GPUs.
Both clusters are being designed in accordance with reference architectures from relevant vendors and will be available either as bare metal or with a managed Kubernetes orchestration layer.
Corvex has secured a right of first refusal that could allow for a further expansion of up to 12.5MW at the Midwest location, which may become available in the third quarter of 2027.
If exercised, this would bring total data centre critical IT capacity to more than 20MW, representing a 13-fold increase over current levels.
The potential for additional capacity is subject to factors including the availability of capital, securing customers, hardware delivery, utility upgrades, and local approvals.
Corvex has entered definitive agreements for the upcoming expansions, both of which will take place within existing data centre infrastructure with live power supply.
The expansion is to be funded by a $33m private placement, which is expected to increase Corvex’s pro forma cash to $55m.
The private placement is led by Goldman Sachs, Morgan Stanley, and Oppenheimer and is set to close around 2 September 2026, subject to closing conditions.
Corvex co-CEO and co-founder Seth Demsey said: “As inference volumes grow, enterprises are paying much closer attention to the cost of serving AI at scale. Token Factory is built to address that cost by offering near-frontier performance on most enterprise workloads at a fraction of the price per million tokens of frontier proprietary models.
“The differentiation will be in the infrastructure and security layer beneath the API. Integrating our Assured AI security capabilities directly into the inference platform gives customers a way to combine lower-cost inference with greater control over sensitive prompts and model weights.”
