Quarterly interest expense exceeds base rent
Company: Applied Digital
The claim, verbatim
Applied Digital's quarterly interest expense of $77.4 million exceeded the $65.8 million it collected in base rent, the first time this has happened.
Source (primary)
Applied Digital's (NASDAQ: APLD) Interest Bill Surpasses Rent Revenue As 800 MW Financing Gap Rattles AI Infrastructure Sector - Foreign Policy Journal (-, news_article)
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Quote: “For the first time, Applied Digital's (NASDAQ: APLD) quarterly interest expense of $77.4 million has outpaced the $65.8 million the company collected in base rent”
How we checked this
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Additional evidence
confirms Applied Digital's (NASDAQ: APLD) Interest Bill Surpasses Rent Revenue As 800 MW Financing Gap Rattles AI Infrastructure Sector - Foreign Policy Journal
Quote: “For the first time, Applied Digital's (NASDAQ: APLD) quarterly interest expense of $77.4 million has outpaced the $65.8 million the company collected in base rent”