Hyperscaler lease for 400 MW HPC capacity
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
The company executed a letter of intent with a US-based hyperscaler for a 400 MW capacity lease, inclusive of current and forthcoming HPC facilities in Ellendale, North Dakota
Source (primary)
Applied Digital 10-K filed 2024-08-30 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “The Company has entered into exclusivity and executed a letter of intent with a US-based hyperscaler for a 400 MW capacity lease, inclusive of our current 100 MW facility and two forthcoming buildings in Ellendale, North Dakota.”
How we checked this
Checked on September 18, 2026. The cited source supports every part of this claim.
The filing states the company entered exclusivity and signed a letter of intent with a US-based hyperscaler for a 400 MW lease covering its current 100 MW facility and two forthcoming buildings in Ellendale.
Confirmed in the source:
- The company executed a letter of intent with a US-based hyperscaler
- The letter of intent covers a 400 MW capacity lease
- The lease covers the current 100 MW HPC facility and two forthcoming buildings in Ellendale, North Dakota
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487924000216/apld-20240531.htm) in full (481,620 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 10-K filed 2024-08-30
Quote: “The Company has entered into exclusivity and executed a letter of intent with a US-based hyperscaler for a 400 MW capacity lease, inclusive of our current 100 MW facility and two forthcoming buildings in Ellendale, North Dakota.”