CoreWeave 250MW Data Center Lease
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
Applied Digital signed two 15-year lease agreements with CoreWeave to deliver 250 megawatts of critical IT load at Polaris Forge 1 in Ellendale, North Dakota, generating approximately $7 billion in contracted revenue
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-25)Live source ↗Archive.org ↗
Quote: “Announced 250MW AI Data Center Leases With CoreWeave in North Dakota - Over the approximately 15-year lease terms, Applied Digital anticipates generating approximately $7 billion in contracted revenue from the leases.”
How we checked this
Checked on October 12, 2026. The cited source supports every part of this claim.
The release states that two 15-year CoreWeave leases for 250 MW at Polaris Forge 1 in Ellendale are expected to generate about $7 billion in contracted revenue.
Confirmed in the source:
- Applied Digital signed two 15-year lease agreements with CoreWeave
- The leases cover 250 megawatts of critical IT load
- The leased capacity is at the Polaris Forge 1 campus in Ellendale, North Dakota
- The leases are expected to generate approximately $7 billion in contracted revenue over the lease terms
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/126/applied-digital-reports-fiscal-fourth-quarter-and-full-year/) in full (41,868 characters, retrieved September 25, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “Announced 250MW AI Data Center Leases With CoreWeave in North Dakota - Over the approximately 15-year lease terms, Applied Digital anticipates generating approximately $7 billion in contracted revenue from the leases.”