1.41 GW leased across five campuses, ~$36B contracted revenue
Company: Applied Digital
The claim, verbatim
As of August 31, 2026, the Company has leases for ~1.41 GW of critical IT load across five campuses, representing ~$36B of contracted revenue over initial base terms (~$86B with renewals).
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-10-08)Live source ↗
Quote: “the Company has leases for approximately 1.41 GW of critical IT load across five campuses ... 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 13, 2026. The cited source supports every part of this claim.
The HPC Hosting Update section of the release states each of these figures as of August 31, 2026.
Confirmed in the source:
- As of August 31, 2026, Applied Digital had leases for approximately 1.41 GW of critical IT load
- The leases cover five campuses
- The leases represent approximately $36 billion of contracted revenue over their initial base terms
- The leases represent approximately $86 billion of contracted revenue if all renewal options are exercised
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/163/applied-digital-reports-fiscal-first-quarter-2027-results/) in full (41,009 characters, retrieved October 8, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “the Company has leases for approximately 1.41 GW of critical IT load across five campuses ... Those leases represent approximately $36 billion of contracted revenue over their initial base terms, or approximately $86 billion if all renewal options are exercised”