Lease agreements for Polaris Forge 1 AI campus
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
Company entered into two lease agreements for first two buildings of Polaris Forge 1 totaling 250 MW capacity
Source (primary)
ARS (IR page (ir.applieddigital.com), ir_release)
View cached copy (2026-09-01)Live source ↗
Quote: “On May 28, 2025, the Company entered into two lease agreements for the first two buildings, totaling 250 MWs.”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The 10-K states the company signed two leases on May 28, 2025 for the first two Polaris Forge 1 buildings, totaling 250 MW, and names the tenant as CoreWeave.
Confirmed in the source:
- On May 28, 2025, Applied Digital entered into two lease agreements for the first two buildings of Polaris Forge 1
- The two leases total 250 MW
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/sec-filings/all-sec-filings/content/0001493152-25-014502/formars.pdf) in full (529,223 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms ARS
Quote: “On May 28, 2025, the Company entered into two lease agreements for the first two buildings, totaling 250 MWs.”