AI cloud provider CoreWeave Inc. is expanding into Indonesia, building its first data-center presence in Asia-Pacific as more technology companies flock to the region.

Chip-making powerhouses like Taiwan and South Korea have been the stars of the global artificial-intelligence infrastructure boom, but other Asian economies are cashing in too, starting to attract billions in investment from tech firms looking to build data centers.

Nasdaq-listed CoreWeave didn't disclose the size of its investment in Indonesia but said it will add three new facilities totaling 360 megawatts of contracted IT power. The sites are expected to come online in 2028.

CoreWeave said the move reflects the growth of AI cloud services demand beyond its existing U.S. and European markets. Across Asia, enterprises and governments increasingly need local AI compute, it added.

"Indonesia is investing heavily in AI education and digital capacity, and it's paying off -- the country is becoming one of Southeast Asia's fastest-growing destinations for global tech investment," said CoreWeave's chief operating officer, Sachin Jain.

Indonesia's large population and natural resources make it an attractive destination for AI and tech firms. Microsoft is building a $1.7 billion data-center site in Jakarta while Edgnex Data Centers, a subsidiary of Dubai's Damac Group, announced a $2.3 billion project there. Last year, California-based Equinix opened a Jakarta data center with local company Astra.

The nation's digital economy is projected to exceed $130 billion by 2030, with the local cloud computing market tipped to reach $5.5 billion by 2031, Mordor Intelligence data show.

For analysts at Moody's Ratings, a sizeable commitment from a frontier compute provider like CoreWeave validates Indonesia's ambition to move up the digital value chain and deepens the region's ecosystem.

Still, such projects carry meaningful execution risk and success will partly depend on Indonesia strengthening power infrastructure to reliably serve high-density data center load, said Ray Tay, APAC digital infrastructure & data centre franchise leader at Moody's.

Long term, the expansion could support CoreWeave's credit profile if it successfully scales its Asia-Pacific presence, secures meaningful customer demand and generates attractive returns on investment.