CoreWeave has agreed to lease an additional 150MW of data center capacity from Applied Digital. This builds on a previous leasing agreement made in June 2025 for 250MW, netting Applied Digital around $7 billion over the 15-year contract term. This has now been increased to $11bn.
“These long-term leases mark a defining moment for Polaris Forge 1, one of North America’s most ambitious data center projects,” said Wes Cummins, chairman and CEO of Applied Digital.
“Purpose-built for artificial intelligence and high-performance computing, the campus combines massive power capacity with rapid deployment and is designed to scale up to 1 gigawatt. With the first 100MW facility scheduled to be operational in Q4 2025, a second 150MW facility scheduled to come online in mid-2026, and a third 150MW facility planned for 2027, we believe Polaris Forge 1 will serve as a launchpad for the future of AI infrastructure.”
According to Cummins, the data centers will be designed with a PUE of 1.18 and a "near-zero" water consumption. He added: “Combined with abundant, low-cost energy and over 200 days of naturally occurring free cooling annually, management believes a 100MW data center customer could save up to approximately $2.7bn over a thirty-year period as compared to the current industry data centers in other regions."
