Applied Digital Secures $7 Billion Data Center Lease with CoreWeave
Jun 8, 2026 (17 hr ago)
Positive
Applied Digital has finalized a 15-year leasing agreement with AI hyperscaler CoreWeave for its Polaris Forge 1 data center, securing $7 billion in long-term contracted revenue.
Strategic Infrastructure Partnership
- The 15-year agreement with CoreWeave for the Polaris Forge 1 campus establishes a significant, long-term foundation for Applied Digital’s high-performance computing operations.1
- This deal represents a total of $7 billion in contracted revenue, providing the company with a substantial and predictable multi-year income stream.1
Operational Financial Outlook
- The recurring nature of these leasing agreements is expected to support future revenue growth and enhance overall cash flow stability for the firm.1
- While the contract provides long-term visibility, the company faces valuation risks if future performance fails to meet the high expectations set by these growth projections.1
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