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Applied Digital Announces 250MW AI Data Center Lease With CoreWeave in North Dakota
Applied Digital Applied Digital (US:APLD) GlobeNewswire News Roomยท2025-06-02 12:00

Core Insights - Applied Digital Corporation has signed two long-term lease agreements with CoreWeave for approximately 15 years, focusing on AI and HPC infrastructure [2][3] - The agreements will provide 250 megawatts (MW) of critical IT load, with an anticipated total revenue of around $7 billion over the lease term [3][4] - CoreWeave has the option to access an additional 150 MW, enhancing the scalability of the Ellendale campus for AI and HPC workloads [4][5] Company Developments - The Ellendale campus is designed for high-density compute and aims to scale up to 1 gigawatt over time, marking a significant step in its development [5][7] - The first 100 MW data center is expected to be operational by Q4 2025, with a second 150 MW facility under construction and projected to be ready by mid-2026 [6] - The campus is engineered for rapid deployment and energy efficiency, positioning Applied Digital as a leader in the AI data center ecosystem [6][8] Industry Positioning - The leases with CoreWeave are seen as a strategic move to support the growing demand for AI and HPC infrastructure, with the Ellendale campus viewed as a launchpad for future developments [4][6] - Applied Digital's facilities are purpose-built to accommodate advanced compute needs, including AI/ML and blockchain workloads, leveraging low-cost energy [8]