Take-or-pay lease agreements with CoreWeave and hyperscalers
Company: Applied Digital
The claim, verbatim
Signed take-or-pay lease agreements covering 1,410 megawatts across five data center campuses in North Dakota and the South with CoreWeave and two investment-grade hyperscalers for 15-year terms, representing approximately $36 billion in total revenue
Source (primary)
Applied Digital Won't Collect Most of Its Rent Until 2029. I'd Wait to Buy the Stock. - The Globe and Mail (-, news_article)
View cached copy (2026-09-08)Live source ↗Archive.org ↗
Quote: “signed take-or-pay leases covering about 1,410 megawatts of capacity at five data center campuses. Those leases represent about $36 billion of revenue over their initial 15-year base terms. The five campuses (three in North Dakota and two in the South) are leased to CoreWeave and two investment-grade hyperscalers. Each lease runs 15 years on a take-or-pay basis”
How we checked this
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Additional evidence
confirms Applied Digital Won't Collect Most of Its Rent Until 2029. I'd Wait to Buy the Stock. - The Globe and Mail
Quote: “signed take-or-pay leases covering about 1,410 megawatts of capacity at five data center campuses. Those leases represent about $36 billion of revenue over their initial 15-year base terms. The five campuses (three in North Dakota and two in the South) are leased to CoreWeave and two investment-grade hyperscalers. Each lease runs 15 years on a take-or-pay basis”