Investment-grade hyperscaler lease at Polaris Forge 2
Company: Applied Digital - Project: Polaris Forge 2
The claim, verbatim
U.S. investment-grade hyperscaler signed approximately 15-year lease for 200 MW at Polaris Forge 2
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-25)Live source ↗Archive.org ↗
Quote: “we signed an approximately 15-year lease with a U.S. based investment‑grade hyperscaler for 200 MW at Polaris Forge 2”
How we checked this
Checked on October 12, 2026. The cited source supports every part of this claim.
The release states that on October 22, 2025, Applied Digital signed an approximately 15-year lease with a U.S. based investment-grade hyperscaler for 200 MW at Polaris Forge 2.
Confirmed in the source:
- Applied Digital signed a lease with a U.S. based investment-grade hyperscaler
- The lease term is approximately 15 years
- The lease covers 200 MW at Polaris Forge 2
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/142/applied-digital-reports-fiscal-second-quarter-2026-results/) in full (45,597 characters, retrieved September 25, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “we signed an approximately 15-year lease with a U.S. based investment‑grade hyperscaler for 200 MW at Polaris Forge 2”