CoreWeave leases at Polaris Forge 1
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
Three leases with CoreWeave Inc.: ELN-02 and ELN-03 Leases for aggregate 250 MW (May 28, 2025) plus Building 4 Lease for additional 150 MW (August 28, 2025), totaling 400 MW contracted capacity
Source (primary)
Applied Digital 10-K filed 2026-07-29 (SEC EDGAR, sec_filing)
View cached copy (2026-08-30)Live source ↗
Quote: “On May 28, 2025, our subsidiaries APLD ELN-02 LLC and APLD ELN-03 LLC each entered into a data center lease with CoreWeave, Inc. to deliver an aggregate of 250 MW...On August 28, 2025, our subsidiary APLD ELN-02 C LLC entered into a third lease with CoreWeave for an additional 150 MW, bringing the total contracted capacity at Polaris Forge 1 under our CoreWeave leases to 400 MW.”
How we checked this
Checked on September 13, 2026. The cited source supports every part of this claim.
The 10-K describes all three CoreWeave leases with these dates and capacities, and gives the 400 MW total. It also notes that in March 2026 the ELN-03 Lease was assigned to a CoreWeave subsidiary.
Confirmed in the source:
- Applied Digital subsidiaries APLD ELN-02 LLC and APLD ELN-03 LLC each entered into a data center lease with CoreWeave, Inc. on May 28, 2025
- The ELN-02 and ELN-03 leases together cover an aggregate of 250 MW
- APLD ELN-02 C LLC entered into a third lease, the Building 4 Lease, with CoreWeave on August 28, 2025
- The Building 4 Lease covers an additional 150 MW
- Total contracted capacity at Polaris Forge 1 under the CoreWeave leases is 400 MW
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487926000048/apld-20260531.htm) in full (594,188 characters, retrieved August 30, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 10-K filed 2026-07-29
Quote: “On May 28, 2025, our subsidiaries APLD ELN-02 LLC and APLD ELN-03 LLC each entered into a data center lease with CoreWeave, Inc. to deliver an aggregate of 250 MW...On August 28, 2025, our subsidiary APLD ELN-02 C LLC entered into a third lease with CoreWeave for an additional 150 MW, bringing the total contracted capacity at Polaris Forge 1 under our CoreWeave leases to 400 MW.”