Macquarie preferred equity then project debt for PF3/Delta Forge
Company: Applied Digital - Project: Delta Forge 2
The claim, verbatim
Polaris Forge 3, Delta Forge 1 and Delta Forge 2 are planned to be funded with 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.
In its funding section, the article names these three projects as next up. It then states that the plan is preferred equity from Macquarie Asset Management, followed by project debt.
Confirmed in the source:
- The funding plan for Polaris Forge 3, Delta Forge 1 and Delta Forge 2 is 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.”