Take-or-pay data center leases
Company: Applied Digital
The claim, verbatim
Applied Digital has signed take-or-pay leases covering approximately 1,410 MW of capacity across five data center campuses, representing approximately $36 billion of revenue over 15-year base terms.
Source (primary)
Applied Digital Won't Collect Most of Its Rent Until 2029. I'd Wait to Buy the Stock. - The Globe and Mail (-, news_article)
View cached copy (2026-09-13)Live source ↗
Quote: “Applied Digital has signed take-or-pay leases covering about 1,410 megawatts of capacity at five data center campuses. Those leases represent about $36 billion of revenue over 15-year base terms, with rent beginning only as buildings are delivered.”
How we checked this
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Additional evidence
confirms Applied Digital Won't Collect Most of Its Rent Until 2029. I'd Wait to Buy the Stock. - The Globe and Mail
Quote: “Applied Digital has signed take-or-pay leases covering about 1,410 megawatts of capacity at five data center campuses. Those leases represent about $36 billion of revenue over 15-year base terms, with rent beginning only as buildings are delivered.”