Hyperscaler leases at Delta Forge 1
Company: Applied Digital - Project: Delta Forge 1
The claim, verbatim
Signed two 15-year leases with three 5-year options with a U.S.-based high investment grade hyperscaler for 2 buildings at Delta Forge 1 (Boyce, LA), utilizing 300 MW of IT load; base-term value ~$7.5B, delivery 1H 2027 / 1H 2028.
Source (primary)
Investor Presentation (IR page (ir.applieddigital.com), ir_presentation)
View cached copy (2026-10-08)Live source ↗Archive.org ↗
Quote: “U.S. Based High Investment Grade Hyperscaler - Signed two 15-year leases with three 5-year options for 2 buildings at Delta Forge 1, utilizing 300 MW of IT load”
How we checked this
Checked on October 13, 2026. The cited source supports every part of this claim.
The presentation states the Delta Forge 1 lease terms, Boyce, LA location, 300 MW capacity, ~$7.5B base-term value and 1H 2027 / 1H 2028 delivery dates.
Confirmed in the source:
- Applied Digital signed two 15-year leases with three 5-year options with a U.S.-based high investment grade hyperscaler
- The leases cover 2 buildings at Delta Forge 1
- Delta Forge 1 is located in Boyce, Louisiana
- The leases utilize 300 MW of IT load
- Base-term lease value for Delta Forge 1 is about $7.5B
- Delta Forge 1 delivery dates are 1H 2027 / 1H 2028
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/_assets/_24468ca358d41940c79de4638f404931/appliedblockchaininc/db/2905/27269/pdf/APLD_INV_June2026_Updated-compressed.pdf) in full (47,679 characters, retrieved October 8, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Investor Presentation
Quote: “U.S. Based High Investment Grade Hyperscaler - Signed two 15-year leases with three 5-year options for 2 buildings at Delta Forge 1, utilizing 300 MW of IT load”