$1 billion NOI target within five years
Company: Applied Digital
The claim, verbatim
Targeting $1 billion NOI within next five years with second campus tenant
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-25)Live source ↗Archive.org ↗
Quote: “The tenant signing at our second campus should put us firmly on the path toward our $1 billion NOI target within the next five years”
How we checked this
Checked on October 12, 2026. The cited source supports every part of this claim.
The release states that signing a tenant at the second campus should put the company firmly on the path toward its $1 billion NOI target within five years. It also notes that this tenant lease was still under discussion, not yet signed.
Confirmed in the source:
- Applied Digital has a $1 billion NOI target within the next five years
- The company says signing a tenant at its second campus should put it on the path toward that target
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: “The tenant signing at our second campus should put us firmly on the path toward our $1 billion NOI target within the next five years”