Applied Digital Secures 250MW AI Data Center Lease with CoreWeave

Applied Digital has signed two 15-year lease agreements with CoreWeave for a 250MW AI data center in North Dakota, expected to generate $7 billion in revenue.

Applied Digital Corporation has announced two approximately 15-year lease agreements with CoreWeave, an AI hyperscaler, to deliver 250 megawatts (MW) of critical IT load at its Ellendale, North Dakota data center campus. Announced in a press release, the agreements are expected to generate approximately $7 billion in total revenue over the lease term.

The Ellendale campus, designed for high-density compute, is engineered to scale up to 1 gigawatt over time. CoreWeave retains the option to access an additional 150 MW of critical IT load, positioning the campus as a scalable hub for expanding AI and high-performance computing (HPC) workloads.

The first 100 MW data center for CoreWeave is anticipated to be operational by the fourth quarter of 2025, with a second 150 MW facility expected by mid-2026. CoreWeave also holds an option for a third 150 MW building, projected to be ready by 2027. This development marks a significant step in Applied Digital's strategic expansion into advanced compute infrastructure.

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