PF3, Delta Forge 1 & 2 hyperscaler leases
Company: Applied Digital - Project: Delta Forge 2
The claim, verbatim
Polaris Forge 3, Delta Forge 1 and Delta Forge 2 are leased to the same unnamed tier-one investment-grade hyperscaler under 15-year take-or-pay leases; company preparing to finance them.
Source (primary)
Applied Digital Q1 Earnings Call Highlights - Yahoo Finance (-, news_article)
View cached copy (2026-10-09)Live source ↗Archive.org ↗
Quote: “Polaris Forge 3, Delta Forge 1 and Delta Forge 2, which are leased to the same unnamed tier-one, investment-grade hyperscaler under 15-year take-or-pay leases”
How we checked this
Checked on October 14, 2026. The cited source supports every part of this claim.
The article says the company is preparing to finance the three campuses, which are leased to the same unnamed investment-grade hyperscaler under 15-year take-or-pay leases.
Confirmed in the source:
- Polaris Forge 3, Delta Forge 1 and Delta Forge 2 are leased to the same unnamed tier-one investment-grade hyperscaler
- The leases are 15-year take-or-pay leases
- Applied Digital is preparing to finance these three campuses
What we did: Read our cached copy of the publisher (https://finance.yahoo.com/markets/stocks/articles/applied-digital-q1-earnings-call-000214656.html) in full (15,656 characters, retrieved October 9, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital Q1 Earnings Call Highlights - Yahoo Finance
Quote: “Polaris Forge 3, Delta Forge 1 and Delta Forge 2, which are leased to the same unnamed tier-one, investment-grade hyperscaler under 15-year take-or-pay leases”