CoreWeave / Applied Digital campus, June 2025

Announced Jun 2, 2025 · 250 MW · Undisclosed

Initial leases cover 250 MW for approximately 15 years, with approximately $7B expected revenue. A separate 150 MW option was subsequently exercised, taking the campus to 400 MW under contract. The initial allocation is not the whole campus. Hosting revenue is excluded from compute purchase totals.

First-capacity target: First 100 MW targeted for Q4 2025

Reported delivery: Ready for service. 250 MW. Polaris Forge 1 campus; 250 MW of critical IT load live as of October 1, 2026, out of 400 MW contracted. Ready for service is a company-reported operational milestone; it does not establish the date of utility energization.