Price adjustment in Phase II GPU lease agreement
Company: Applied Digital
The claim, verbatim
On April 29, 2024, Applied Digital and Character Tech. entered into Second Addendum updating Phase II pricing to $2.25 per GPU per hour for 1,024 GPUs over 16 months, with total Phase II contract value of $26,910,720.00, and lease term extended from March 2024 to August 2025.
Source (primary)
Docket 279 entry #32 - 1 (RECAP, court_filing)
View cached copy (2026-09-10)Live source ↗
Quote: “Applied Digital alleges that the Second Addendum provided a price of $2.25 per GPU, per hour, assessed on a 24-hour per-day, 7-day per-week basis for the 1,024 GPUs over the remaining 16 months of the Agreement, with a total Phase II Tranche value of $26,910,720.00. Applied Digital asserts that pursuant to the Second Addendum, Character Tech. would continue to lease both the Phase I Tranche and the Phase II Tranche GPUs from March 2024 to August 2025.”
How we checked this
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Additional evidence
confirms Docket 279 entry #32 - 1
Quote: “Applied Digital alleges that the Second Addendum provided a price of $2.25 per GPU, per hour, assessed on a 24-hour per-day, 7-day per-week basis for the 1,024 GPUs over the remaining 16 months of the Agreement, with a total Phase II Tranche value of $26,910,720.00. Applied Digital asserts that pursuant to the Second Addendum, Character Tech. would continue to lease both the Phase I Tranche and the Phase II Tranche GPUs from March 2024 to August 2025.”