Applied Digital and CoreWeave Sign 15-Year Agreement for AI and HPC Growth

DALLAS, June 2, 2025 — Applied Digital Corporation (APLD), a company focused on designing and operating next-generation digital infrastructure, has announced two new lease agreements with CoreWeave (CRWV), each spanning approximately 15 years. These agreements will deliver a combined 250 megawatts (MW) of critical IT load at Applied Digital’s (APLD) data center campus in Ellendale, North Dakota, enabling CoreWeave (CRWV) to scale its artificial intelligence (AI) and high-performance computing (HPC) operations.

The Ellendale campus, considered one of the most ambitious data infrastructure projects in North America, is engineered to meet the growing demands of next-gen workloads. With a projected capacity to scale up to 1 gigawatt, the site is designed for high-density compute and fast deployment — essential characteristics for today’s AI and HPC environments.

Over the term of the agreements, Applied Digital (APLD) anticipates earning around $7 billion in total revenue. CoreWeave (CRWV) has also secured an option to access an additional 150 MW of IT load, reinforcing Ellendale’s role as a scalable hub for future AI and HPC development.

“We believe these leases solidify Applied Digital’s (APLD) position as an emerging provider of infrastructure critical to the next generation of artificial intelligence and high-performance computing,”

said Wes Cummins, Chairman and CEO of Applied Digital.

“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 (CRWV) as an ideal partner as we accelerate our growth and innovation.”

Applied Digital expects the first 100 MW facility dedicated to CoreWeave to become operational by Q4 2025. A second 150 MW building is under construction and targeted for mid-2026. CoreWeave also holds an option for a third 150 MW installation, which is currently being planned and projected for service in 2027.

“We believe Ellendale is more than a development project — it’s a launchpad for the future of AI infrastructure,”

added Cummins.

“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.”

Designed with speed, efficiency, and sustainability in mind, the Ellendale facility takes advantage of a prime geographic location and abundant low-cost energy. These factors make it well-positioned to meet the growing capacity needs of AI and HPC clients and help establish Applied Digital and the region as leaders in this space.

The campus is capable of supporting 400 MW of IT load and has over 1 gigawatt of power capacity currently undergoing various stages of load study, paving the way for further data center growth in the coming years.

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