Three new data centers with $20 billion contracted lease value
Company: Applied Digital - Project: Polaris Forge 3
The claim, verbatim
Three new campuses (Delta Forge 1, Polaris Forge 3, Delta Forge 2) carry approximately $20 billion of contracted lease value, all leased to one high investment-grade hyperscaler
Source (primary)
Can Applied Digital Stock Recover On Leases It Has Already Signed? - Trefis (-, news_article)
View cached copy (2026-09-20)Live source ↗
Quote: “Three new campuses, Delta Forge 1, Polaris Forge 3 and Delta Forge 2, carry about $20 billion of it, all leased to one high investment-grade hyperscaler.”
How we checked this
Checked on September 25, 2026. The cited source supports every part of this claim.
The article states this directly.
Confirmed in the source:
- Three new campuses, Delta Forge 1, Polaris Forge 3 and Delta Forge 2, carry about $20 billion of Applied Digital's contracted lease value
- All three campuses are leased to one high investment-grade hyperscaler
What we did: Read our cached copy of the publisher (https://www.trefis.com/stock/apld/articles/615734/can-applied-digital-stock-recover-on-leases-it-has-already-signed/2026-09-17) in full (11,286 characters, retrieved September 20, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Can Applied Digital Stock Recover On Leases It Has Already Signed? - Trefis
Quote: “Three new campuses, Delta Forge 1, Polaris Forge 3 and Delta Forge 2, carry about $20 billion of it, all leased to one high investment-grade hyperscaler.”