~$36B base-term contracted lease revenue
Company: Applied Digital
The claim, verbatim
The HPC leases represent approximately $36 billion of contracted revenue over initial base terms, or approximately $86 billion if all renewal options are exercised.
Source (primary)
applied-digital 8-K exhibit (apldq127earningsrelease.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-10-08)Live source ↗
Quote: “Those leases represent approximately $36 billion of contracted revenue over their initial base terms, or approximately $86 billion if all renewal options are exercised”
How we checked this
Checked on October 9, 2026. The cited source supports every part of this claim.
The HPC Hosting Update states both the $36 billion base-term figure and the $86 billion figure including renewal options.
Confirmed in the source:
- The HPC leases represent approximately $36 billion of contracted revenue over their initial base terms
- The HPC leases represent approximately $86 billion of contracted revenue if all renewal options are exercised
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1144879/000114487926000057/apldq127earningsrelease.htm) in full (40,083 characters, retrieved October 8, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms applied-digital 8-K exhibit (apldq127earningsrelease.htm)
Quote: “Those leases represent approximately $36 billion of contracted revenue over their initial base terms, or approximately $86 billion if all renewal options are exercised”