Overview
- Applied Digital will supply 250 megawatts of critical IT load to CoreWeave under two 15-year leases at its Ellendale, North Dakota data center.
- The leases are projected to generate approximately $7 billion in revenue for Applied Digital over their 15-year term.
- Ellendale campus currently supports up to 400 MW of load and can expand beyond one gigawatt to meet rising AI and high-performance computing demands.
- Applied Digital’s shares surged as much as 54% after the announcement, and CoreWeave’s stock climbed over 8% as investors welcomed the partnership.
- CoreWeave has now contracted more than 2 GW of power capacity and reported a $25.9 billion order backlog at the end of Q1, including $11.2 billion from OpenAI.