Joint venture with Foundry Technologies for AI/ML hosting
Company: Applied Digital
The claim, verbatim
Applied Digital formed SAI Computing LLC with Foundry Technologies, with APLD holding 98% ownership, to provide AI and machine learning hosting services
Source (primary)
Applied Digital 424B3 filed 2023-05-16 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “On October 13, 2022, the Company entered into a joint venture agreement with Foundry Technologies, Inc. ('Foundry') to form SAI Computing, LLC ('SAI'). SAI will provide artificial intelligence and machine learning application customers with access to machines and a hosting environment. The Company has an 98% ownership interest in SAI and consolidates the entity.”
How we checked this
Checked on September 21, 2026. The cited source supports every part of this claim.
The document establishes the Foundry joint venture, 98% ownership, and AI/ML hosting purpose.
Confirmed in the source:
- Applied Digital formed SAI Computing, LLC with Foundry Technologies, Inc.
- Applied Digital holds a 98% ownership interest in SAI
- SAI provides AI and machine learning application customers access to machines and a hosting environment
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487923000134/apld-424b3finalprospectus0.htm) in full (53,370 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 424B3 filed 2023-05-16
Quote: “On October 13, 2022, the Company entered into a joint venture agreement with Foundry Technologies, Inc. ('Foundry') to form SAI Computing, LLC ('SAI'). SAI will provide artificial intelligence and machine learning application customers with access to machines and a hosting environment. The Company has an 98% ownership interest in SAI and consolidates the entity.”