Ellendale HPC construction financing talks
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
The Company is in advanced discussions with traditional financing counterparties to fund construction for the investment-grade tenant.
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-10-08)Live source ↗Archive.org ↗
Quote: “The Company is in advanced discussions with traditional financing counterparties, to facilitate construction activities, for this investment-grade tenant.”
How we checked this
Checked on October 13, 2026. The cited source supports every part of this claim.
The HPC Data Center Hosting Update section says this directly, in the context of the Ellendale hyperscaler LOI.
Confirmed in the source:
- The Company is in advanced discussions with traditional financing counterparties
- The financing discussions are to facilitate construction activities
- The financing relates to the investment-grade tenant (the US-based hyperscaler at the Ellendale HPC campus)
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/105/applied-digital-reports-fiscal-fourth-quarter-and-full-year/) in full (35,062 characters, retrieved October 8, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “The Company is in advanced discussions with traditional financing counterparties, to facilitate construction activities, for this investment-grade tenant.”