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19.7
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24.8
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832
Description
Corvex, Inc., an AI cloud computing company, provides GPU-accelerated infrastructure for AI workloads to customers worldwide. The company provides graphics processing unit accelerated compute, confidential computing, token factory, and inference services purpose-built to protect and perform. It also offers an artificial intelligence cloud computing services specializing in graphics processing unit accelerated infrastructure for AI workloads. The company is based in Arlington, Virginia.
3401 North Fairfax Drive
Suite 3230
Arlington, VA 22201
United States
+1 (866) 438-4787
Sector(s): AI cloud computing and infrastructure
Industry: Software - AI & cloud computing
Full Time Employees: N/A
Co-Chief Executive Officer, Co-Founder and Chairman of the Board
Seth Demsey has served as the Co-Chief Executive Officer and Co-Founder of Corvex and on the Corvex board of directors since October 2024. He has spent nearly three decades architecting and operating high-impact AI/ML and developer platforms across startups and industry leaders including NASA, Microsoft, Google, and AOL/Yahoo!. He holds dozens of patents spanning high-performance computing, distributed systems, security, and data management. Prior to co-founding Corvex, Mr. Demsey served in technical leadership roles driving innovation in large-scale distributed computing and mission-critical infrastructure. His expertise encompasses the full stack of cloud infrastructure technologies required to deliver reliable, high-performance AI computing at scale. Mr. Demsey received a Bachelors of Science degree in Computer Engineering from Bucknell University and was previously a business fellow at The Wharton School of the University of Pennsylvania.
Co-Chief Executive Officer, Co-Founder and Director
Jay Crystal has served as the Co-Chief Executive Officer and Co-Founder of Corvex and on the Corvex board of directors since October 2024. Prior to co-founding Corvex, Mr. Crystal previously co-founded and served as a board director of clean.io (now HUMAN Security, Inc.) and configure8. Mr. Crystal also served in several management roles at AOL, Inc. and its successors and subsidiaries, including as Director, Corporate Development and Vice President, Business Development and Corporate Strategy, from 2010-2017. Mr. Crystal began his career serving in growth equity, private equity, and investment banking roles at Staley Capital, American Capital and Banc of America Securities between 2000 to 2010. Mr. Crystal received a Bachelor of Business Administration in Finance from The George Washington University.
Chief Financial Officer
Chance Moreland has served as the Chief Financial Officer of Corvex since June 2026. Previously, he served as Managing Director in Leveraged and Acquisition Finance at Morgan Stanley. During his more than 12 years at the firm, Moreland led the structuring and execution of complex financings across loan and bond markets, advising on over 150 transactions, including multi-billion-dollar financings across GPUs as a service, data center, power and energy, asset leasing, and other sectors. Moreland holds an MBA with Dean’s Honors from Columbia Business School, a Master of Science in Aeronautics and Astronautics from Stanford University, and dual degrees in Economics and Physics-Engineering from Washington and Lee University. He is also a CFA® charterholder.
Grand Forks, North Dakota
100 MWAuburn, AL
16 MWMuskogee, OK
100 MWAustin, Texas
20 MWPecos, Texas
250 MWDenton, Texas
391 MWCalvert City, Kentucky
150 MWMarble, North Carolina
103 MWDalton, Georgia
195 MW
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Nov. 07, 2024 | 10:00AM EST | Power Mining Analysis
- Core Scientific emerged from Chapter 11 bankruptcy, securing a $460M convertible note to strengthen financials and support acquisitions, including a new site in Alabama to boost Bitcoin mining and HPC growth.
- Core Scientific contracted 570 megawatts to CoreWeave, positioning itself as a leader in the HPC market, capitalizing on increased demand and enhancing operational capabilities.
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- Focus on self-mining and tech advancements to maximize Bitcoin holdings amidst market volatility, boosting profitability and solidifying industry position.
- With over 700,000 machines in operation, Core Scientific emphasizes repair-friendly, cost-efficient equipment, using on-site repair teams and data-driven forecasting to enhance long-term efficiency.
- CEO Adam Sullivan’s leadership sets industry benchmarks, reflecting a pioneering approach to recovery, expansion, and innovation, positioning Core Scientific for continued success in Bitcoin mining and HPC.
Core Scientific's trajectory is witnessing a major transformation as they report outstanding achievements from 2024 and aggressive plans for 2025. Adam Sullivan shares insights into their breakthrough contracts, focus on high-performance computing, and strategies for sustainable growth in the Bitcoin mining sector.