New U.S. hyperscaler lease at Delta Forge 1
Company: Applied Digital - Project: Delta Forge 1
The claim, verbatim
Entered into lease agreement with new U.S. based high investment-grade hyperscaler for 300 MW over 15 years, representing approximately $7.5 billion in total contracted value
Source (primary)
applied-digital 8-K exhibit (apld_deltaforgexprxfinal.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-09)Live source ↗
Quote: “entered into a lease agreement with a new U.S. based high investment-grade h yperscaler at its 430 MW AI Factory campus, Delta Forge 1. This lease represents approximately $7.5 billion in total contracted value over an estimated 15-year lease term and covers 300 megawatts (MW) of critical IT load”
How we checked this
Checked on September 19, 2026. The cited source supports every part of this claim.
The document states all elements of the lease: counterparty type, 300 MW, 15-year term, and $7.5 billion value.
Confirmed in the source:
- Entered into lease agreement with new U.S. based high investment-grade hyperscaler at Delta Forge 1
- Lease covers 300 MW of critical IT load
- Lease term is estimated 15 years
- Lease represents approximately $7.5 billion in total contracted value
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1144879/000114487926000036/apld_deltaforgexprxfinal.htm) in full (7,835 characters, retrieved September 9, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms applied-digital 8-K exhibit (apld_deltaforgexprxfinal.htm)
Quote: “entered into a lease agreement with a new U.S. based high investment-grade h yperscaler at its 430 MW AI Factory campus, Delta Forge 1. This lease represents approximately $7.5 billion in total contracted value over an estimated 15-year lease term and covers 300 megawatts (MW) of critical IT load”