Polaris Forge 1 CoreWeave leases
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
On May 28, 2025, APLD ELN-02 LLC and APLD ELN-03 LLC entered into data center leases with CoreWeave for 250 MW. On August 28, 2025, APLD ELN-02 C LLC entered into an additional lease with CoreWeave for 150 MW, totaling 400 MW of contracted capacity under 15-year leases.
Source (primary)
View 10-K (IR page (ir.applieddigital.com), ir_release)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
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. ("CoreWeave") to deliver an aggregate of 250 MW of capacity...On August 28, 2025, our subsidiary APLD ELN-02 C LLC entered into a third lease (the "Building 4 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 October 10, 2026. The cited source supports every part of this claim.
The 10-K describes both CoreWeave lease dates, the subsidiaries, the 250 MW and 150 MW amounts and the 400 MW total, and its portfolio table lists a 15-year lease term for Polaris Forge 1.
Confirmed in the source:
- On May 28, 2025, APLD ELN-02 LLC and APLD ELN-03 LLC each entered into a data center lease with CoreWeave
- Those two leases cover an aggregate 250 MW
- On August 28, 2025, APLD ELN-02 C LLC entered into a third lease with CoreWeave for an additional 150 MW
- Contracted CoreWeave capacity at Polaris Forge 1 totals 400 MW
- The Polaris Forge 1 leases have a 15-year term
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/sec-filings/all-sec-filings/content/0001144879-26-000048/0001144879-26-000048.pdf) in full (630,756 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms View 10-K
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. ("CoreWeave") to deliver an aggregate of 250 MW of capacity...On August 28, 2025, our subsidiary APLD ELN-02 C LLC entered into a third lease (the "Building 4 Lease") with CoreWeave for an additional 150 MW, bringing the total contracted capacity at Polaris Forge 1 under our CoreWeave leases to 400 MW.”