Overview

• The two 15-year agreements commit Applied Digital’s Ellendale campus to provide CoreWeave with 250 MW of IT load capacity.
• The deals are projected to generate about $7 billion in revenue for Applied Digital over the lease term.
• Applied Digital’s shares jumped nearly 50 percent Monday, while CoreWeave’s stock continued its post-IPO rally.
• CoreWeave holds an option to lease an additional 150 MW in a planned third data hall expected online in 2027, potentially filling the campus’s 400 MW design.
• Backed by Nvidia investments and hardware supply, CoreWeave has now contracted over 2 GW of power capacity to support AI and high-performance computing workloads for clients such as OpenAI, Microsoft and Google.