CoreWeave announced a $7 billion data center deal with Applied Digital, causing its stock price to rise over 25%.

Gate News bot message, CoreWeave (CRWV) stock price rose 25% on Tuesday, and increased another 5% in pre-market, bringing its year-to-date gain to 276%, after the company announced a $7 billion infrastructure deal with Applied Digital.

CoreWeave has signed two 15-year lease agreements to provide 250 megawatts of IT load for its data center campus located in Ellendale, North Dakota.

The first batch of 100MW data centers will be operational in the fourth quarter of 2025, followed by a 150MW data center that will be operational in mid-2026. CoreWeave also has an option for an additional capacity of up to 300MW.

The Ellendale campus of Applied Digital has a designed capacity of 400MW, with over 1GW of power capacity currently under review. The company recently secured $375 million in financing from Sumitomo Mitsui Banking Corporation (SMBC) to accelerate its development.

Source: CoinDesk

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