CoreWeave inked two 15-year lease agreements with Applied Digital, securing facilities to host 250 MW worth of its AI and high performance compute (HPC) infrastructure at the latter's Ellendale, North Dakota data center campus.
Applied Digital expects the leases to yield around $7 billion in total revenue over the contract term.
As part of the deal, CoreWeave also retains the option to access an additional 150 MW of critical IT load at Ellendale, positioning the campus as a scalable hub for expanding AI and HPC workloads.
Applied Digital broke ground on the Ellendale campus in September 2022, with the first 180 MW facility there dedicated to crypto mining hardware. It broke ground on a second 100 MW facility focused on HPC at the site in October 2023 and secured an anchor tenant for the facility in March 2024. It has been in the midst of a funding frenzy to complete the HPC site's inital 400 MW buildout.
The Ellendale campus was planned to be engineered for high-density compute and designed to scale up to 1 gigawatt over time.
Applied Digital expects the first 100 MW data center for CoreWeave to be ready for service in the fourth quarter of calendar 2025. The second building, which is expected to house a 150 MW data center, is currently under construction and is expected to be ready for service in the middle of 2026.
Read the full press release here.