CoreWeave leases at Polaris Forge 1
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
Signed three 15-year leases with CoreWeave, each with three 5-year options, for 3 buildings at Polaris Forge 1 totaling 400 MW of critical IT load; base-term lease value ~$10.7B.
Source (primary)
Investor Presentation (IR page (ir.applieddigital.com), ir_presentation)
View cached copy (2026-10-06)Live source ↗Archive.org ↗
Quote: “CoreWeave - Signed three 15-year leases with three 5-year options for 3 buildings at Polaris Forge 1, utilizing 400 MW of Critical IT load”
How we checked this
Checked on October 8, 2026. The cited source supports every part of this claim.
The presentation's timeline describes the three CoreWeave leases with their terms and capacity. Its lease table lists Polaris Forge 1's base-term value as $10.7B.
Confirmed in the source:
- Applied Digital signed three 15-year leases with CoreWeave
- The leases carry three 5-year options
- The leases cover 3 buildings at Polaris Forge 1
- The leases total 400 MW of critical IT load
- Base-term lease value is about $10.7B
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/_assets/_2ca3a6fc58e47f662a7c51ed55b80806/appliedblockchaininc/db/2905/27269/pdf/APLD_INV_June2026_Updated-compressed.pdf) in full (47,679 characters, retrieved October 6, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Investor Presentation
Quote: “CoreWeave - Signed three 15-year leases with three 5-year options for 3 buildings at Polaris Forge 1, utilizing 400 MW of Critical IT load”