Applied Digital (APLD) announced that it has finalized a new lease agreement with CoreWeave (CRWV), the AI Hyperscaler, for an additional 150MW at its Polaris Forge 1 Campus in Ellendale, North Dakota. This new lease agreement with CoreWeave brings Applied Digital’s total anticipated contracted lease revenue to approximately $11B, which includes $7B in revenue from the initial two approximately 15-year leases executed in May of this year. “This new lease agreement with CoreWeave underpins our commitment to building the next generation of AI infrastructure right here in America’s heartland,” said Wes Cummins, Chairman and CEO of Applied Digital. “It also further reinforces the importance of North Dakota’s role in shaping the future of the digital economy and is another step in advancing its position as one of the most strategic destinations for AI in the world.”
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