CoreWeave 150MW lease option for additional capacity
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
CoreWeave exercised its lease option for an additional 150 megawatts of capacity, with parties expected to execute a third lease agreement on substantially the same terms. This would add approximately $4 billion in contracted revenue and bring total contracted revenue from CoreWeave to approximately $11 billion.
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “Since the end of the fourth quarter 2025, CoreWeave exercised its option for an additional 150MW, which would bring the total capacity leased by CoreWeave to 400MW and would add approximately $4 billion in contracted revenue, which would bring total contracted revenue to approximately $11 billion for the approximately 15-year lease terms. Under the option terms, the parties are expected to promptly enter into a new, third lease agreement on substantially the same terms, including the same rent and escalators, as the existing two leases”
How we checked this
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Additional evidence
confirms Earnings Release
Quote: “Since the end of the fourth quarter 2025, CoreWeave exercised its option for an additional 150MW, which would bring the total capacity leased by CoreWeave to 400MW and would add approximately $4 billion in contracted revenue, which would bring total contracted revenue to approximately $11 billion for the approximately 15-year lease terms. Under the option terms, the parties are expected to promptly enter into a new, third lease agreement on substantially the same terms, including the same rent and escalators, as the existing two leases”