Macquarie preferred equity plus project debt for new campuses
Company: Applied Digital - Project: Delta Forge 2
The claim, verbatim
Funding for Polaris Forge 3, Delta Forge 1 and Delta Forge 2 is planned as preferred equity from Macquarie Asset Management followed by project debt.
Source (primary)
Applied Digital Ends the Quarter With $36 Billion in Contracted Revenue as AI Moat Widens - Yahoo Finance (-, news_article)
View cached copy (2026-10-12)Live source ↗Archive.org ↗
Quote: “The plan is preferred equity from Macquarie Asset Management, followed by project debt.”
How we checked this
Checked on October 15, 2026. The cited source supports every part of this claim.
Right after naming the three campuses, the article says the plan is Macquarie preferred equity followed by project debt.
Confirmed in the source:
- Funding for Polaris Forge 3, Delta Forge 1 and Delta Forge 2 is planned as preferred equity from Macquarie Asset Management
- Project debt is planned to follow the preferred equity
What we did: Read our cached copy of the publisher (https://finance.yahoo.com/technology/ai/articles/applied-digital-ends-quarter-36-193002231.html) in full (13,480 characters, retrieved October 12, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital Ends the Quarter With $36 Billion in Contracted Revenue as AI Moat Widens - Yahoo Finance
Quote: “The plan is preferred equity from Macquarie Asset Management, followed by project debt.”