Investment-grade hyperscaler 200 MW lease at Polaris Forge 2
Company: Applied Digital - Project: Polaris Forge 2
The claim, verbatim
Applied Digital signed an approximately 15-year lease with a U.S.-based investment-grade hyperscaler for 200 MW at Polaris Forge 2 on October 22, 2025.
Source (primary)
applied-digital 8-K exhibit (apldq326earningsrelease.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-10)Live source ↗
Quote: “On October 22, 2025, we signed an approximately 15-year lease with a U.S. based investment-grade hyperscaler for 200 MW at Polaris Forge 2.”
How we checked this
Checked on September 20, 2026. The cited source supports every part of this claim.
The source states this verbatim.
Confirmed in the source:
- On October 22, 2025 Applied Digital signed an approximately 15-year lease
- The lease is with a U.S.-based investment-grade hyperscaler for 200 MW at Polaris Forge 2
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1144879/000114487926000029/apldq326earningsrelease.htm) in full (46,258 characters, retrieved September 10, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms applied-digital 8-K exhibit (apldq326earningsrelease.htm)
Quote: “On October 22, 2025, we signed an approximately 15-year lease with a U.S. based investment-grade hyperscaler for 200 MW at Polaris Forge 2.”