Total contracted lease revenue for Polaris Forge 1
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
Total anticipated contracted lease revenue for Polaris Forge 1 approximately $11 billion, including $7 billion from two approximately 15-year leases executed in May
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-25)Live source ↗Archive.org ↗
Quote: “This new lease agreement with CoreWeave brings Applied Digital's total anticipated contracted lease revenue for Polaris Forge 1 to approximately $11 billion, which includes $7 billion in revenue from the initial two approximately 15-year leases executed in May of this year”
How we checked this
Checked on October 12, 2026. The cited source supports every part of this claim.
The release states the new CoreWeave lease brings Polaris Forge 1's anticipated contracted lease revenue to about $11 billion, including $7 billion from two roughly 15-year leases signed in May.
Confirmed in the source:
- Total anticipated contracted lease revenue for Polaris Forge 1 is approximately $11 billion
- That total includes $7 billion from the initial two leases
- The two initial leases are approximately 15-year leases
- The two initial leases were executed in May 2025
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/131/applied-digital-reports-fiscal-first-quarter-2026-results/) in full (34,802 characters, retrieved September 25, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “This new lease agreement with CoreWeave brings Applied Digital's total anticipated contracted lease revenue for Polaris Forge 1 to approximately $11 billion, which includes $7 billion in revenue from the initial two approximately 15-year leases executed in May of this year”