Applied Digital Corporation announced the finalization of a new lease agreement with CoreWeave, the AI Hyperscaler, for an additional 150 megawatts (MW) at its Polaris Forge 1 Campus in Ellendale, North Dakota. This new lease significantly expands the company's commitment to advanced compute infrastructure.
This agreement brings Applied Digital's total anticipated contracted lease revenue with CoreWeave to approximately $11 billion across three long-term agreements. The Polaris Forge 1 Campus will now deliver a total of 400MW in critical IT capacity to CoreWeave, solidifying a major customer relationship.
The Polaris Forge 1 Campus is engineered to eventually scale up to 1 gigawatt, utilizing renewable power and North Dakota’s climate to optimize efficiency. This finalized lease underscores Applied Digital's strategic expansion into high-performance computing and its ability to secure large-scale, long-term contracts with leading AI clients.
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