CoreWeave lease - $11 billion total contracted revenue
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
New lease agreement with CoreWeave brings total anticipated contracted lease revenue for Polaris Forge 1 to approximately $11 billion over approximately 15-year terms, including $7 billion from initial leases
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “This new lease agreement with CoreWeave brings Applied Digital's total anticipated contracted lease revenue for Polaris Forge 1 to approximately $11 billion, which includes $7 billion in revenue from the initial two approximately 15-year leases executed in May of this year.”
How we checked this
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Additional evidence
confirms Earnings Release
Quote: “This new lease agreement with CoreWeave brings Applied Digital's total anticipated contracted lease revenue for Polaris Forge 1 to approximately $11 billion, which includes $7 billion in revenue from the initial two approximately 15-year leases executed in May of this year.”