Applied Digital (APLD) entered into two approximately 15-year lease agreements with CoreWeave (CRWV). Under the lease agreements, Applied Digital will deliver 250 megawatts of critical IT load to host CoreWeave’s artificial intelligence and high-performance computing infrastructure at its Ellendale, North Dakota data center campus. Over the approximately 15-year term, Applied Digital anticipates generating approximately $7 billion in total revenue from the leases. Pursuant to the lease agreements, CoreWeave also retains the option to access an additional 150 MW of critical IT load at Ellendale, positioning the campus as a scalable hub for expanding AI and HPC workloads
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