Applied Digital has finalized a new lease agreement with CoreWeave for an additional 150MW at its Polaris Forge 1 Campus in Ellendale, North Dakota.
The total anticipated contracted lease revenue for Applied Digital is approximately $11B, including revenue from previous leases executed earlier in the year.
The Polaris Forge 1 Campus is strategically designed to power CoreWeave's AI and HPC initiatives, with a total critical IT capacity of 400MW.
Strategic Expansion with CoreWeave
The lease agreement with CoreWeave strengthens Applied Digital's strategic expansion into advanced compute infrastructure.
American Heartland Commitment
The agreement highlights the commitment to building AI infrastructure in America's heartland, emphasizing North Dakota's role in shaping the digital economy.
Future Capacity and Development
The Polaris Forge 1 Campus is planned to scale up to 1 gigawatt and is designed for high-density compute through innovation and sustainability measures.
- The new lease agreement underpins Applied Digital's mission to power progress through purpose-driven AI factory campuses.
- The campus's design to harness renewable power and prioritize sustainability is estimated to result in significant savings over 30 years.
- Applied Digital aims to continue rapid growth by delivering on its mission to drive innovation in overlooked regions.
Applied Digital's latest lease agreement with CoreWeave signifies a significant step in advancing AI infrastructure. This strategic move aligns with the company's mission to drive innovation and economic opportunities in underserved communities.