Applied Digital Corporation is a designer, builder, and operator of next-gen digital infrastructure for HPC applications, announcing new 15-year lease agreements with AI Hyperscaler, CoreWeave.
This new agreement will see Applied Digital delivering 250 megawatts (MW) of critical IT load to hose CoreWeave's extensive AI and high-performance computing (HPC) infrastructure at its Ellendale, North Dakota data center campus. Across the expansive approximately 15-year term, Applied Digital anticipates generating around $7 billion in total revenue from the leases.
CoreWeave also retains the option to access an additional 150 MW of critical IT load at Ellendale, which has positioned the data center campus as a scalable hub for expanding AI and HPC workloads.
Wes Cummins, Chairman and CEO of Applied Digital, explains: "We believe these leases solidify Applied Digital's position as an emerging provider of infrastructure critical to the next generation of artificial intelligence and high-performance computing. As demand for AI accelerates exponentially, we believe that we are uniquely positioned to deliver substantial returns while supporting the evolving and dynamic needs of these rapidly evolving sectors. We view CoreWeave as an ideal partner as we accelerate our growth and innovation".
Cummins continued: "We believe Ellendale is more than a development project - it's a launchpad for the future of AI infrastructure. We intend for this platform to put us in a strong position to support early demand while continuing to grow alongside our customers. Through these newly signed long-term leases with CoreWeave, we are taking a step forward in our strategic expansion into advanced compute infrastructure".
