CoreWeave 250MW lease agreements at Polaris Forge 1
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
Applied Digital signed two 15-year lease agreements with CoreWeave to deliver 250 megawatts of critical IT load at Polaris Forge 1 in Ellendale, North Dakota, expected to generate approximately $7 billion in contracted revenue over the lease terms.
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “signed two transformative 15-year lease agreements with CoreWeave, an AI hyperscaler, to deliver 250 megawatts of critical IT load at our Ellendale, North Dakota data center campus ("Polaris Forge 1"). These signed lease agreements are expected to generate approximately $7 billion in contracted revenue over the approximate 15-year lease terms.”
How we checked this
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Additional evidence
confirms Earnings Release
Quote: “signed two transformative 15-year lease agreements with CoreWeave, an AI hyperscaler, to deliver 250 megawatts of critical IT load at our Ellendale, North Dakota data center campus ("Polaris Forge 1"). These signed lease agreements are expected to generate approximately $7 billion in contracted revenue over the approximate 15-year lease terms.”