Long-term data center lease backlog with hyperscalers
Company: Applied Digital
The claim, verbatim
Applied Digital has $36 billion in long-term, take-or-pay lease agreements with top-tier hyperscalers
Source (primary)
Applied Digital Surges After Wells Fargo Names Stock a Top Pick With $50 Price Target - TradingView (-, news_article)
View cached copy (2026-09-20)Live source ↗
Quote: “investment-grade-concentrated backlog, which features $36 billion in long-term, take-or-pay lease agreements with top-tier hyperscalers”
How we checked this
Checked on September 25, 2026. The cited source supports every part of this claim.
The article, describing Wells Fargo's coverage initiation, states Applied Digital's backlog features $36 billion in long-term, take-or-pay lease agreements with top-tier hyperscalers.
Confirmed in the source:
- Applied Digital has a backlog of long-term, take-or-pay lease agreements
- The lease agreements total $36 billion
- The counterparties are top-tier hyperscalers
What we did: Read our cached copy of the publisher (https://www.tradingview.com/news/benzinga:7bda70542094b:0-applied-digital-surges-after-wells-fargo-names-stock-a-top-pick-with-50-price-target/) in full (4,138 characters, retrieved September 20, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital Surges After Wells Fargo Names Stock a Top Pick With $50 Price Target - TradingView
Quote: “investment-grade-concentrated backlog, which features $36 billion in long-term, take-or-pay lease agreements with top-tier hyperscalers”