CoreWeave Seeks Regulatory Truce With Texas Governor-elect Hinojosa

CoreWeave Inc. has reached out to Texas Governor-elect Gina Hinojosa to collaborate on data center regulations following a sharp decline in the company's market value. The financial instability followed Hinojosa's campaign pledge to implement a statewide moratorium on new AI data center construction, which she described as a corporate "Wild West" that threatens local water supplies and the electricity grid.

CoreWeave CEO Michael Intrator wrote to the transition team to express support for the principle that data center growth must benefit the state. Intrator sought to establish durable standards for future development and ensure the completion of projects that have already been permitted.

The outreach comes as CoreWeave faces significant financial vulnerability, including an estimated debt load near $50 billion. The company's stock recently hit a record low of $49.92, marking a 44% decline over the past month as investors reacted to the potential for restrictive state policies.