AI cloud platform and datacenters buildout
Company: Applied Digital
The claim, verbatim
Loan proceeds will be used to fund the buildout of the Company's recently announced AI cloud platform and datacenters
Source (primary)
Applied Digital 8-K filed 2023-05-24 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “The proceeds of the Loan will be used to provide additional liquidity to fund the buildout of the Company's recently announced AI cloud platform and datacenters by the Borrower”
How we checked this
Checked on September 21, 2026. The cited source supports every part of this claim.
The document states proceeds will fund the buildout of the recently announced AI cloud platform and datacenters.
Confirmed in the source:
- Loan proceeds will fund the buildout of the Company's recently announced AI cloud platform and datacenters
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487923000152/apld-20230519.htm) in full (4,865 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 8-K filed 2023-05-24
Quote: “The proceeds of the Loan will be used to provide additional liquidity to fund the buildout of the Company's recently announced AI cloud platform and datacenters by the Borrower”