CoreWeave lease assignment MOU
Company: Applied Digital - Project: Polaris Forge 1
What the later record shows
Not a promise: a reported event · happened June 5, 2026
The claim reports an MOU already signed on June 5, 2026, three days before the statement. The July 2026 earnings release confirms the MOU, though it calls the assigned lease the 'Building 4' lease, not Building 3.
“Entered a Memorandum of Understanding with CoreWeave to assign the Building 4 lease at Polaris Forge 1 to a CoreWeave subsidiary upon achieving an investment-grade credit rating.”
2026-07-27 · View PDF View cached copy (2026-09-01)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Applied Digital entered into an MOU with CoreWeave on June 5, 2026, to assign the lease for Building 3 at Polaris Forge 1 campus to a CoreWeave subsidiary, conditional upon that subsidiary achieving an investment grade credit rating
Source (primary)
applied-digital 8-K exhibit (ex99-1.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-06)Live source ↗
Quote: “Applied Digital also entered into a Memorandum of Understanding with CoreWeave on June 5, 2026, to assign the lease with CoreWeave for Building 3 at the Polaris Forge 1 campus to a CoreWeave subsidiary, if that subsidiary achieves an investment grade credit rating”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The press release states the MOU date, the Building 3 lease at Polaris Forge 1, and the assignment to a CoreWeave subsidiary if it achieves an investment grade rating.
Confirmed in the source:
- Applied Digital entered into a Memorandum of Understanding with CoreWeave on June 5, 2026
- The MOU concerns assigning the CoreWeave lease for Building 3 at the Polaris Forge 1 campus to a CoreWeave subsidiary
- The assignment depends on that subsidiary achieving an investment grade credit rating
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1144879/000149315226027857/ex99-1.htm) in full (7,311 characters, retrieved September 6, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms applied-digital 8-K exhibit (ex99-1.htm)
Quote: “Applied Digital also entered into a Memorandum of Understanding with CoreWeave on June 5, 2026, to assign the lease with CoreWeave for Building 3 at the Polaris Forge 1 campus to a CoreWeave subsidiary, if that subsidiary achieves an investment grade credit rating”