Connect with us

Technology

COREWEAVE SIGNS 280,000 SF LEASE AT ONYX AND MACHINE’S NORTHEAST SCIENCE & TECHNOLOGY CENTER IN KENILWORTH

Published

on

Conversion to Datacenter will be a Collaborative Effort Between Developer, CoreWeave and PSE&G

KENILWORTH, N.J., Oct. 28, 2024 /PRNewswire/ — Roseland-based CoreWeave has signed a long term lease with an Onyx Equities and Machine Investment Group partnership for the entirety of building 11 NEST at The Northeast Science & Technology (NEST) Center in Kenilworth with plans to convert the 280,000-square-foot former lab and manufacturing building into a state-of-the-art data center.

CoreWeave plans to invest $1.2 billion, and the Onyx Equities-led venture expects to spend over $50 million on the project, which will become CoreWeave’s first data center in New Jersey.

PSE&G, New Jersey’s oldest and largest utility, will be readying the area’s electrical infrastructure to support the energy needs of the datacenter facility in Kenilworth. PSE&G currently serves over 30 large data centers.

“CoreWeave’s commitment to invest over a billion dollars at the NEST campus demonstrates New Jersey’s leading role in artificial intelligence, and our innovation strategies are working,” said New Jersey Governor Phil Murphy. “Through collaboration with utilities, government, investors, and real estate developers, we’re committed to attracting businesses that will build an innovation economy for the future. Thanks to PSE&G, Mayor Linda Karlovitch, the development team at Onyx Equities, Machine Investment Group and CoreWeave, this new data center will further fuel our state’s leadership in innovation.”

“PSE&G is committed to providing safe, affordable and reliable energy to all of our customers, no matter their location or their energy requirements,” said Ralph LaRossa, Chair, President and CEO of PSEG, PSE&G’s parent company. “This project is a good example of the work that Governor Murphy and the New Jersey Economic Development Authority are doing to foster a new wave of economic development for our state. We are excited to welcome and partner with Onyx and CoreWeave on this project.”

“We are incredibly excited to open a next-generation data center in CoreWeave’s home state of New Jersey,” said CoreWeave CEO and Co-founder Michael Intrator. “Governor Phil Murphy’s efforts have helped spur the creation of an AI ecosystem in the State, and CoreWeave’s announcement today underscores that New Jersey is open for AI business.” In 2023, CoreWeave more than quadrupled its data center footprint and is on track to end the year with 28 data centers globally.

“This partnership positions the NEST campus as a major hub for data processing, AI, and biopharma innovation,” said John Saraceno, Co-Founder and Managing Principal for Onyx Equities. “CoreWeave will be a key cornerstone of NEST, as life science and biotechnology tenants at the campus will benefit from CoreWeave’s advanced cloud infrastructure to support their AI-driven projects and boost research and development capabilities.”

11 NEST is part of the 100+ acre, 2M SF campus that is purpose-built and zoned for life science innovation and data centers, answering a need for immediately available, turn-key, and customizable office, laboratory, and bio-manufacturing space in the tri-state area. Formerly the global headquarters of Merck, the Onyx Equities, Machine Investment Group, and Pivot Real Estate Partners group acquired the campus February 2023 and have since begun work to develop it into a hub of research and innovation in the Northeast region of the United States.  For more information about NEST, visit www.NestCenter.com.

For more information on PSE&G’s electric service, please visit pseg.com/service.

About Onyx Equities, LLC

Headquartered in Gateway One in Newark, Onyx Equities, LLC is a leading, full-service real estate firm specializing in investment, asset repositioning and ground-up development. Since its founding in 2004, Onyx has acquired more than $4 billion worth of diverse real estate assets throughout New Jersey, New York, and Pennsylvania, and has executed over $1 billion in capital improvement projects under its signature repositioning program. Driving Onyx’s success is its deep understanding of the development process and core geographic markets, a seasoned team of expertise in all facets of real estate, and its adaptability to market conditions and the experience gained from managing over 65 MSF since inception. Throughout its esteemed portfolio of properties, Onyx takes aim at increasing operational efficiency, tenant satisfaction and long-term value to create dynamic commercial, residential and mixed-use environments of the highest quality.  For more information about Onyx Equities, visit https://www.onyxequities.com/.

About Machine Investment Group

Machine Investment Group is a real estate investment platform focused on investing in opportunistic, distressed, and special situations across all major asset classes in diverse geographies throughout the United States. Co-Founded by Eric Rosenthal, Machine principals are directly responsible for deploying $2.0 BN in capital to date. With a strong reputation, solutions-oriented approach, and extensive lender relationships, Machine aims to deliver consistent, opportunistic returns while minimizing losses. For more information, please visit https://machineinv.com/.

About PSE&G

Public Service Electric & Gas Co. is New Jersey’s oldest and largest gas and electric delivery public utility, as well as one of the nation’s largest utilities. PSE&G has won the ReliabilityOne® Award for superior electric system reliability in the Mid-Atlantic region for 22 consecutive years. For the third consecutive year, PSE&G is the recipient of the ENERGY STAR Partner of the Year award in the Energy Efficiency Program Delivery category. In 2023 J.D. Power named PSE&G number one in customer satisfaction with residential and business electric service in the east among large utilities. PSE&G is a subsidiary of Public Service Enterprise Group Inc., (PSEG), a predominantly regulated infrastructure company focused on a clean energy future and has been named to the Dow Jones Sustainability Index for North America for 16 consecutive years (www.pseg.com).

View original content to download multimedia:https://www.prnewswire.com/news-releases/coreweave-signs-280-000-sf-lease-at-onyx-and-machines-northeast-science–technology-center-in-kenilworth-302289222.html

SOURCE Onyx Equities

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

11:11 Systems Announces Strategic Partnership with Cato Networks to Deliver SASE Solution for Distributed Enterprises

Published

on

By

New Managed Secure Access Service Edge (SASE) solution combines SD-WAN, cloud-native networking and security capabilities with 11:11’s connectivity, cyber resilience and cloud expertise

SYDNEY, July 22, 2026 /PRNewswire/ — 11:11 Systems, a leading managed infrastructure solutions provider, today announced the global availability of its 11:11 Managed Secure Access Service Edge (SASE) solution and a new strategic partnership with Cato Networks.

11:11 Managed SASE is a fully managed secure connectivity solution leveraging Cato Networks AI-native network security platform. This solution brings together intelligent SD-WAN, cloud-delivered security and global connectivity into a single offering. It enables organisations to simplify and secure access across branch offices, data centres, users and cloud environments, reducing complexity without sacrificing performance or control.

Built on the Cato Networks cloud-native SASE platform, 11:11 Managed SASE combines zero trust network access (ZTNA), firewall as a service (FWaaS), secure web gateway (SWG), cloud access security broker (CASB), advanced threat protection and centralised visibility into a unified managed experience. 11:11 also delivers 24x7x365 monitoring and support, incident management integration and operational accountability to help customers limit vendor sprawl, increase agility and free internal teams to focus on higher-value priorities.

The offering is backed by 11:11’s broader networking, cloud and cyber resilience capabilities. Through its global backbone, carrier-agnostic connectivity options and integrated portfolio spanning cloud, backup, disaster recovery and security services, 11:11 gives customers a practical path to modernise network and security architecture while strengthening resilience across the business.

“Enterprises are under pressure to support users, applications and locations that are more distributed than ever, while limiting complexity and improving security,” said Justin Giardina, CTO, 11:11 Systems. “Our Managed SASE solution provides customers with a unified approach to modernising networking and security, along with the visibility, support and flexibility they need to thrive in a rapidly changing environment.”

According to Karl Soderlund, global channel chief, Cato Networks, “As enterprises move beyond fragmented legacy networking and security stacks, they need a simpler way to gain visibility, context and control across hybrid work environments and reduce the operational burden on IT. Through our partnership, we can address these challenges head on and deliver end-to-end visibility and protection in a single service built for the reality of modern work.”

The joint offering is well suited for distributed enterprises, multi-site organisations, hybrid workforce initiatives, SD-WAN refreshes, security modernisation efforts and businesses with limited IT resources. 11:11 meets customers where they are by supporting existing environments, simplifying multi-vendor operations and serving as a single provider accountable for network, security, cloud and data integration.

This partnership expands 11:11’s Network as a Service portfolio and follows Forrester’s inclusion of 11:11 Systems in its report, “The Secure Access Service Edge Services Landscape, Q1 2026.”

About 11:11 Systems

11:11 Systems is a managed infrastructure solutions provider that empowers customers to modernise, protect and manage mission-critical applications and data, leveraging 11:11’s resilient cloud platform. Learn more at www.1111Systems.com and follow 11:11 on LinkedIn.

View original content:https://www.prnewswire.com/apac/news-releases/1111-systems-announces-strategic-partnership-with-cato-networks-to-deliver-sase-solution-for-distributed-enterprises-302830322.html

SOURCE 11:11 Systems

Continue Reading

Technology

Crowell & Moring Expands Financial Services Group with Former UBS Bank USA General Counsel Cristina Diaz

Published

on

By

NEW YORK, July 21, 2026 /PRNewswire/ — Crowell & Moring has added Cristina Diaz, former executive director and general counsel of UBS Bank USA, and most recently head of legal for UBS’s U.S. Remediation Management Office, to the firm’s Financial Services Group as senior counsel in New York. Diaz brings more than two decades of in-house counsel and law firm experience in bank regulation, compliance, and risk management.

At Crowell, Diaz will counsel banks, fintechs, and digital assets companies on a broad range of bank regulatory matters, including charters and licensing, permissible activities, capital requirements, regulatory enforcement, M&A, and corporate governance. She will also counsel clients navigating the intersection of traditional banking and emerging financial services, including digital assets companies seeking to acquire or establish national banks, and banks exploring partnerships with fintechs and digital assets firms.

At UBS, Diaz advised on the firm’s most pressing regulatory matters, including most recently UBS Bank USA’s charter conversion from a Utah industrial bank to an OCC national bank and key compliance remediations. This work gave Diaz extensive experience navigating relationships with state and federal financial regulators. Earlier in her career, Diaz spent eight years at Davis Polk & Wardwell advising U.S. and foreign banks on bank regulatory matters, M&A, and capital markets transactions.

“Cristina is a highly experienced, solution-oriented attorney who brings deep knowledge in the bank regulatory space. She will be an enormous asset to the firm’s growing regulatory and transactional offerings to banks, digital assets businesses, and fintechs,” said Carlton Greene, Co-Chair of Crowell’s Financial Services Group.

“I am delighted to join Crowell & Moring and integrate my bank regulatory experience with the firm’s nationally-recognized digital assets practice. As traditional banking and emerging financial technologies continue to evolve, clients need actionable and sophisticated legal counsel. Crowell offers the collaborative platform to help institutions successfully execute their growth and compliance strategies,” said Diaz.

Diaz received her J.D. from New York University School of Law, where she was a member of the New York University Law Review, and received her B.A., summa cum laude, from New York University. She is fluent in Spanish.

About Crowell & Moring LLP
Crowell & Moring is an international law firm with operations in the United States, Europe, and MENA. Drawing on significant government, business, industry, and legal experience, the firm helps clients capitalize on opportunities and provides creative solutions to complex regulatory and policy, litigation, transactional, and intellectual property issues. The firm is consistently recognized for its commitment to pro bono service, as well as its comprehensive programs and initiatives to advance the professional and personal development of all members of the Crowell community.

Media Contact:
Email: prteam@crowell.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/crowell–moring-expands-financial-services-group-with-former-ubs-bank-usa-general-counsel-cristina-diaz-302831280.html

SOURCE Crowell & Moring LLP

Continue Reading

Technology

Quantinuum and SoftBank Corp. Publish Joint White Paper on Scaling Practical Quantum Computing Use Cases Toward the Fault-Tolerant Era

Published

on

By

The companies have published a joint white paper mapping commercially relevant quantum computing use cases in quantum chemistry and graph analytics to Quantinuum’s hardware roadmap.The paper provides a framework for assessing how advances in quantum hardware and algorithms, could affect when practical industrial applications become feasible.SoftBank Corp. and Quantinuum will use the roadmap to inform their exploration of future quantum AI data center services and related business models.

TOKYO and BROOMFIELD, Colo., July 22, 2026 /PRNewswire/ — Quantinuum (NASDAQ: QNT) and SoftBank Corp. (“SoftBank”) today announced the publication of “Quantum Computing Frontiers,” a joint white paper that maps two commercially-relevant quantum computing application areas against Quantinuum’s hardware roadmap. The analysis examines how advances in quantum hardware and algorithms could affect when these applications become practical for industrial use.

The paper focuses on two representative application domains that SoftBank is actively using Quantinuum’s systems to research: quantum chemistry for new materials discovery and energy research, and topological data analysis for large-scale graph analytics, including for telecommunications fraud detection. The authors anchor their assessment of the scalability of these two application areas against Quantinuum’s published hardware roadmap, examining how projected advances in hardware capabilities and algorithms may enable the commercial readiness of future industrial applications.

Building on this use-case roadmap, the paper also examines how quantum computing, AI, and high-performance computing could be integrated into future computing infrastructure. It considers how progress across successive hardware generations could inform future quantum AI data center services and related business models, a key focus of the Quantinuum and SoftBank partnership announced last year.

“The key takeaway of this study is that organizations do not need to wait for large-scale, fault-tolerant systems to explore where quantum computing can begin creating value,” said Duncan Jones, General Manager, Applications Group at Quantinuum. “By using today’s systems to develop, benchmark and refine applications in areas such as quantum chemistry and graph analytics, enterprises can build the technical and operational readiness needed for the next era of quantum-enabled computing.”

“The question is no longer whether quantum computing may deliver value, but rather which problem classes become executable at which stage of hardware maturity,” said Ryuji Wakikawa, Senior Vice President & CTO at SoftBank Corp. “However, we believe progress in hardware must be complemented by equally strong developments in quantum algorithms and the integration of quantum systems with AI and high-performance computing.”

The white paper discusses illustrative scenarios describing how representative applications, technology maturity, and potential market opportunities may evolve over time under stated assumptions. The analysis provided in the paper is intended to provide a conceptual framework for understanding potential market evolution and does not represent financial guidance or forecasts. These analyses are intended to support discussion of future technology development and should not be interpreted as commitments regarding commercialization, infrastructure investment, products, services, or financial performance.

The full white paper is available to download on the SoftBank and Quantinuum websites.

About SoftBank Corp.

Guided by the SoftBank Group’s corporate philosophy, “Information Revolution – Happiness for everyone,” SoftBank Corp. (TOKYO: 9434) operates telecommunications and IT businesses in Japan and globally. Building on its strong business foundation, SoftBank Corp. is aiming to activate the potential of AI across its businesses and drive implementation in line with its “Activate AI for Society” growth strategy. While further growing its telecom business, SoftBank is expanding its AI computing infrastructure and AI and Cloud service businesses with the aim of becoming a provider of Next-generation Social Infrastructure. To learn more, please visit https://www.softbank.jp/en/corp/

About Quantinuum

Quantinuum (NASDAQ: QNT) is a leading quantum computing company offering a full-stack platform designed to make quantum computing deployable in real-world environments. The company has commercially deployed multiple generations of quantum systems built on the well-established QCCD architecture, which it has implemented with novel designs and capabilities to achieve the industry’s highest accuracy levels based on average two-qubit gate fidelity.[1] Quantinuum has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets. The company has a global workforce of approximately 700 employees, including top scientists and researchers. Over 70% of its technology team holds PhDs or Master’s degrees. Quantinuum’s headquarters is in Broomfield, Colorado, with additional facilities across the United States, United Kingdom, Germany, Japan, Qatar, and Singapore.

For more information, please visit www.quantinuum.com.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain statements that may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. The words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable,” the negative version of these words, or similar terms and phrases are intended to identify forward-looking statements. Such statements are based on certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. New factors emerge from time to time, and it is not possible for Quantinuum to predict all such factors. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Quantinuum does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

 

[1] As of December 31, 2025.

SOURCE Quantinuum

Continue Reading

Trending