CoreWeave 400 MW Polaris Forge 1 lease
Company: Applied Digital
The claim, verbatim
Applied Digital leases all 400 MW of its Polaris Forge 1 campus in North Dakota to CoreWeave under a 15-year take-or-pay lease worth about $11.0 billion over its base term, 30.4% of Applied Digital's $36.2 billion contracted revenue as of May 31.
Source (primary)
CoreWeave Has “a Sentiment Problem.” Its Landlord Applied Digital Has $11 Billion Riding on It - TIKR.com (-, news_article)
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Quote: “The Polaris Forge 1 lease runs 15 years on take-or-pay terms and is worth about $11.0 billion over its base term. That's 30.4% of Applied Digital's $36.2 billion of contracted revenue as of May 31.”
How we checked this
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Additional evidence
confirms CoreWeave Has “a Sentiment Problem.” Its Landlord Applied Digital Has $11 Billion Riding on It - TIKR.com
Quote: “The Polaris Forge 1 lease runs 15 years on take-or-pay terms and is worth about $11.0 billion over its base term. That's 30.4% of Applied Digital's $36.2 billion of contracted revenue as of May 31.”