Mentioned:
CoreWeave is on a mission to rapidly secure capacity for artificial intelligence workloads. And they’ve just cut another deal with a publicly traded company to do it.
What’s happening:
- Applied Digital (NASDAQ: APLD) has entered into a new deal with CoreWeave (NASDAQ: CRWV) to provide 250 megawatts of power capacity for high performance computing at their North Dakota based data centre
By the numbers:
- Applied Digital and CoreWeave have entered into two lease agreements which will span over 15 years
- The CoreWeave deal is expected to generate $7B USD in total revenue for Applied Digital
- CoreWeave also has the option to expand the deal with Applied Digital by an additional 150 megawatts
Why it matters:
- This is the first deal that Applied Digital has ever done with CoreWeave and also represents the single largest contract in the history of the company
Going deeper:
- CoreWeave has been aggressively cutting deals with publicly listed companies for high performance computing lately, including recently striking a deal with Galaxy Digital (NASDAQ: GLXY) to host GPUs at their Helios data centre located in Texas
The intrigue:
- High performance computing has continued to be a major theme in the public markets, with Alset AI (TSXV: GPUS) just recently forming a new partnership with Excel Computility to expand access to leading edge hardware and servers for their portfolio company Lyken AI
