Overview
- Revenue rose to about $126.6 million with earnings per share at $0.00, topping forecasts that called for roughly $89.8 million in sales and a loss.
- Polaris Forge 1 reached ready‑for‑service at 100 MW, triggering roughly $85 million in CoreWeave payments from tenant fit‑out services and partial‑quarter rent.
- The company now counts two hyperscaler tenants across North Dakota campuses, including a reported $5 billion, 15‑year, 200 MW lease at Polaris Forge 2 and CoreWeave’s expansion to 400 MW worth about $11 billion over 15 years.
- Applied completed a $2.35 billion private notes offering and ended the quarter with approximately $2.3 billion in cash and equivalents to fund new campuses.
- Management reported advanced talks with another investment‑grade hyperscaler for up to 900 MW across three sites and outlined a planned ChronoScale spin/merge to separate the GPU cloud business.