Applied Digital Corp. Sees 31% Surge on Expanded Multi-Billion Contract with CoreWeave.
ByAinvest
Friday, Aug 1, 2025 1:31 pm ET1min read
APLD--
The expanded lease agreement is part of a long-term partnership between Applied Digital and CoreWeave. The initial 250 MW lease, signed in June 2025, was expected to generate approximately $7 billion in contracted revenue over the 15-year term. With the additional 150 MW capacity, the total contracted revenue is now projected to reach approximately $11 billion [1].
The Ellendale, North Dakota, data center campus, dubbed Polaris Forge 1, is designed to host 400 MW of critical IT load and has the potential to scale up to 1 gigawatt. The first 100 MW facility is expected to be operational by the end of 2025, with the second 150 MW facility scheduled to come online by mid-2026 [2].
The company's financial results for the fiscal fourth quarter and fiscal year ended May 31, 2025, showed revenues of $38.0 million and $144.2 million, respectively, up 41% and 6% YoY. The net loss attributable to common stockholders narrowed from $26.6 million to $161.0 million, a 16% decrease [3].
Applied Digital's strategic focus on high-performance computing (HPC) and artificial intelligence (AI) infrastructure is evident in its recent growth and the expanded lease agreement with CoreWeave. The company's Polaris Forge 1 campus is purpose-built for AI and HPC, combining massive power capacity with rapid deployment and low water consumption [2].
References:
[1] https://finance.yahoo.com/news/applied-digital-apld-announced-signing-185304463.html
[2] https://www.datacenterdynamics.com/en/news/coreweave-signs-on-for-another-150mw-of-capacity-at-applied-digital-data-center-campus/
[3] https://ir.applieddigital.com/news-events/press-releases/detail/126/applied-digital-reports-fiscal-fourth-quarter-and-full-year
CRWV--
PII--
Applied Digital Corp. (APLD) stock surged 31% to $13.14 on Thursday after announcing an expanded lease agreement with CoreWeave Inc. (CRWV) worth some $11 billion. The deal includes an additional 150 MW of critical IT load, bringing the total capacity to 400 MW. The new load is expected to raise Applied Digital Corp.'s revenues by another $4 billion. The company's net loss narrowed by 16% in Q4, while total revenues increased by 41% YoY.
Applied Digital Corp. (APLD) stock surged 31% to $13.14 on Thursday following the announcement of an expanded lease agreement with CoreWeave Inc. (CRWV). The deal, worth approximately $11 billion, includes an additional 150 MW of critical IT load, bringing the total capacity to 400 MW. This new load is expected to raise Applied Digital Corp.'s revenues by an additional $4 billion. The company's net loss narrowed by 16% in Q4, while total revenues increased by 41% year-over-year (YoY).The expanded lease agreement is part of a long-term partnership between Applied Digital and CoreWeave. The initial 250 MW lease, signed in June 2025, was expected to generate approximately $7 billion in contracted revenue over the 15-year term. With the additional 150 MW capacity, the total contracted revenue is now projected to reach approximately $11 billion [1].
The Ellendale, North Dakota, data center campus, dubbed Polaris Forge 1, is designed to host 400 MW of critical IT load and has the potential to scale up to 1 gigawatt. The first 100 MW facility is expected to be operational by the end of 2025, with the second 150 MW facility scheduled to come online by mid-2026 [2].
The company's financial results for the fiscal fourth quarter and fiscal year ended May 31, 2025, showed revenues of $38.0 million and $144.2 million, respectively, up 41% and 6% YoY. The net loss attributable to common stockholders narrowed from $26.6 million to $161.0 million, a 16% decrease [3].
Applied Digital's strategic focus on high-performance computing (HPC) and artificial intelligence (AI) infrastructure is evident in its recent growth and the expanded lease agreement with CoreWeave. The company's Polaris Forge 1 campus is purpose-built for AI and HPC, combining massive power capacity with rapid deployment and low water consumption [2].
References:
[1] https://finance.yahoo.com/news/applied-digital-apld-announced-signing-185304463.html
[2] https://www.datacenterdynamics.com/en/news/coreweave-signs-on-for-another-150mw-of-capacity-at-applied-digital-data-center-campus/
[3] https://ir.applieddigital.com/news-events/press-releases/detail/126/applied-digital-reports-fiscal-fourth-quarter-and-full-year
Stay ahead of the market.
Get curated U.S. market news, insights and key dates delivered to your inbox.
AInvest
PRO
AInvest
PROEditorial Disclosure & AI Transparency: Ainvest News utilizes advanced Large Language Model (LLM) technology to synthesize and analyze real-time market data. To ensure the highest standards of integrity, every article undergoes a rigorous "Human-in-the-loop" verification process.
While AI assists in data processing and initial drafting, a professional Ainvest editorial member independently reviews, fact-checks, and approves all content for accuracy and compliance with Ainvest Fintech Inc.’s editorial standards. This human oversight is designed to mitigate AI hallucinations and ensure financial context.
Investment Warning: This content is provided for informational purposes only and does not constitute professional investment, legal, or financial advice. Markets involve inherent risks. Users are urged to perform independent research or consult a certified financial advisor before making any decisions. Ainvest Fintech Inc. disclaims all liability for actions taken based on this information. Found an error?Report an Issue
Comments
No comments yet