Applied Digital Secures $7 Billion Data Center Lease with CoreWeave

Jun 7, 2026 (21 hr ago)

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Applied Digital Secures $7 Billion Data Center Lease with CoreWeave

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 CoreWeave Partnership

Applied Digital entered into a 15-year lease agreement with CoreWeave for its purpose-built Polaris Forge 1 AI/HPC data center campus.1
This partnership secures $7 billion in total contracted revenue, establishing a significant, long-term financial foundation for the company’s operations.1

Revenue Stability and Growth

The long-term nature of these agreements provides Applied Digital with a predictable, recurring revenue stream that supports future cash flow stability and operational growth.1

Valuation and Market Positioning

Despite strong growth prospects, the company currently trades at valuation multiples significantly higher than the broader US IT industry and its direct peers.1
Investors should note that these elevated valuation levels create potential risk if the company fails to meet future performance expectations.1

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Applied Digital Secures $7 Billion Data Center Lease with CoreWeave | Foxly Invest