Investment-grade hyperscaler 200 MW lease at Polaris Forge 2
Company: Applied Digital
The claim, verbatim
Approximately 15-year lease with a U.S.-based investment-grade hyperscaler for 200 MW at Polaris Forge 2, signed October 22, 2025, phased across two buildings beginning in 2026, expected to deliver approximately $5 billion in revenue.
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-29)Live source ↗Archive.org ↗
Quote: “Announced an approximately 15‑year lease with a U.S. based investment‑grade hyperscaler for 200MW of AI and HPC capacity at the under‑construction Polaris Forge 2 campus, with phased delivery across two buildings beginning in 2026, expected to deliver approximately $5 billion in revenue.”
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Additional evidence
confirms Earnings Release
Quote: “Announced an approximately 15‑year lease with a U.S. based investment‑grade hyperscaler for 200MW of AI and HPC capacity at the under‑construction Polaris Forge 2 campus, with phased delivery across two buildings beginning in 2026, expected to deliver approximately $5 billion in revenue.”