Letter of intent with US-based hyperscaler for HPC capacity lease
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
Entered into letter of intent with US-based hyperscaler for 400 MW capacity lease, including current 100 MW facility and two forthcoming Ellendale buildings
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 10-K describes an exclusivity arrangement and letter of intent with a US hyperscaler for a 400 MW lease covering the 100 MW facility plus two future Ellendale buildings.
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 400 MW includes the current 100 MW facility and two forthcoming buildings in Ellendale, ND
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.”