CoreWeave leases at Polaris Forge 1
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
Signed three 15-year leases with three 5-year options with CoreWeave for 3 buildings at Polaris Forge 1, utilizing 400 MW of critical IT load; base-term lease value ~$10.7B, delivery 2H 2025 / 1H 2027.
Source (primary)
Investor Presentation (IR page (ir.applieddigital.com), ir_presentation)
View cached copy (2026-10-08)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 13, 2026. The cited source supports every part of this claim.
The presentation's timeline and lease table state the CoreWeave lease terms, 400 MW capacity, $10.7B base-term value and 2H 2025 / 1H 2027 delivery dates for Polaris Forge 1.
Confirmed in the source:
- Applied Digital signed three 15-year leases with three 5-year options with CoreWeave
- The leases cover 3 buildings at Polaris Forge 1
- The leases utilize 400 MW of critical IT load
- Base-term lease value for Polaris Forge 1 is about $10.7B
- Polaris Forge 1 delivery dates are 2H 2025 / 1H 2027
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/_assets/_24468ca358d41940c79de4638f404931/appliedblockchaininc/db/2905/27269/pdf/APLD_INV_June2026_Updated-compressed.pdf) in full (47,679 characters, retrieved October 8, 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”