300 MW take-or-pay lease at Delta Forge 1
Company: Applied Digital - Project: Delta Forge 1
The claim, verbatim
Signed a 15-year take-or-pay lease with a high investment-grade hyperscaler for 300 MW at Delta Forge 1 in Boyce, Louisiana, providing approximately $7.5 billion in base-term contracted revenue with initial operations expected in calendar year 2027
Source (primary)
applied-digital 8-K exhibit (apldq426earningsreleaseasf.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-02)Live source ↗
Quote: “Signed a 15-year take-or-pay lease with a new U.S. based, high investment-grade hyperscaler for 300 megawatts ("MW") of critical IT load at Delta Forge 1, a new AI Factory campus in Boyce, Louisiana. The lease provides for approximately $7.5 billion in base-term contracted revenue, with initial operations expected to commence calendar year 2027.”
How we checked this
Checked on September 19, 2026. The cited source supports every part of this claim.
The lease terms, location, revenue, and timing all appear verbatim.
Confirmed in the source:
- Signed a 15-year take-or-pay lease with a high investment-grade hyperscaler for 300 MW at Delta Forge 1 in Boyce, Louisiana
- The lease provides approximately $7.5 billion in base-term contracted revenue
- Initial operations expected in calendar year 2027
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1144879/000114487926000044/apldq426earningsreleaseasf.htm) in full (54,633 characters, retrieved September 2, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms applied-digital 8-K exhibit (apldq426earningsreleaseasf.htm)
Quote: “Signed a 15-year take-or-pay lease with a new U.S. based, high investment-grade hyperscaler for 300 megawatts ("MW") of critical IT load at Delta Forge 1, a new AI Factory campus in Boyce, Louisiana. The lease provides for approximately $7.5 billion in base-term contracted revenue, with initial operations expected to commence calendar year 2027.”