Hyperscaler order backlog and leases
Company: Applied Digital
The claim, verbatim
Signed three new leases representing $20 billion in long-term contracted revenue from a hyperscaler customer
Source (primary)
APLD Stock Soars 6% After-Hours After Q4 Revenue Quadruples On $20B Backlog - Stocktwits (-, news_article)
View cached copy (2026-09-21)Live source ↗
Quote: “The company announced an order backlog of $20 billion from an unnamed hyperscaler. The above lease signings represent roughly $20 billion in long-term contracted revenue”
How we checked this
Checked on September 26, 2026. The cited source supports every part of this claim.
The article says Applied Digital signed three new leases with the same investment-grade hyperscaler. It adds that the company said these leases represent roughly $20 billion in long-term contracted revenue.
Confirmed in the source:
- Applied Digital signed three new leases (Delta Forge 1, Polaris Forge 3 and Delta Forge 2)
- The three lease signings represent roughly $20 billion in long-term contracted revenue
- The leases are with a single hyperscaler customer
What we did: Read our cached copy of the publisher (https://stocktwits.com/news-articles/markets/equity/apld-q4-revenue-quadruples-on-20-b-backlog/cZZxMX8R76M) in full (4,658 characters, retrieved September 21, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms APLD Stock Soars 6% After-Hours After Q4 Revenue Quadruples On $20B Backlog - Stocktwits
Quote: “The company announced an order backlog of $20 billion from an unnamed hyperscaler. The above lease signings represent roughly $20 billion in long-term contracted revenue”