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
Checked on September 19, 2026. The cited source supports every part of this claim.
Every assertion in the claim is stated in the document.
Confirmed in the source:
- Applied Digital signed take-or-pay leases covering about 1,410 megawatts across five data center campuses
- Three of the campuses are in North Dakota and two are in the South
- The campuses are leased to CoreWeave and two investment-grade hyperscalers
- Each lease runs 15 years
- The leases represent about $36 billion of revenue over their 15-year base terms
What we did: Read our cached copy of the publisher (https://www.theglobeandmail.com/investing/markets/markets-news/motley/4478039/applied-digital-won-t-collect-most-of-its-rent-until-2029-i-d-wait-to-buy-the-stock/) in full (9,374 characters, retrieved September 8, 2026) and checked each assertion in the claim against it.
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”