CoreWeave Plans First India Data Centers With 240 MW AdaniConneX Deal in Navi Mumbai

CRWV announced its first data centers in India through a partnership with AdaniConneX. The company will take 240 MW of capacity across three 80 MW buildings at AdaniConneX's Taloja campus in Navi Mumbai, with the first phase expected to come online in mid-2028. According to CoreWeave's announcement, it will be the sole tenant of the three buildings, has the option to add up to another 240 MW at the campus, and will deploy the NVDA Vera Rubin platform with direct liquid cooling. CoreWeave also plans to open an India office and hire locally.

AdaniConneX is a 50:50 joint venture between Adani Enterprises and EdgeConneX, according to the release. The deal adds to a capacity base Investing.com put at about 4.2 GW of contracted power as of CoreWeave's Aug. 11 earnings call, so India is a geographic extension rather than a step change in scale. The announcement gave no investment amount, contract value or named customers, and the first capacity is not due until mid-2028.

The market reaction was negative. CoreWeave shares fell 3.54% to $88.97, and Adani Enterprises also declined. Evercore ISI maintained its Outperform rating and $150 price target after the news; that is a reiteration, not an upgrade. Bloomberg also reported on the deal.

What to watch: whether CoreWeave names anchor customers for the Navi Mumbai capacity, whether it exercises the option for a second 240 MW, how the build is financed given the company's heavy capital commitments, and construction progress toward the mid-2028 first phase.