Phase II Tranche pricing amendment
Company: Applied Digital
What the later record shows
Not a promise: a reported event · happened April 29, 2024
In 2026 the company described, as alleged in litigation, an addendum signed on April 29, 2024. That is a past event, not a commitment.
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
On April 29, 2024, Applied Digital and Character Tech. entered into Second Addendum revising Phase II pricing to $2.25 per GPU per hour for 1,024 GPUs over remaining 16 months with total value of $26,910,720.00.
Source (primary)
Applied Digital Corporation v. Character Technologies, Inc. — Entry #38 (RECAP, court_filing)
View cached copy (2026-09-09)Live source ↗
Quote: “Applied Digital alleges that the Second Addendum provided a price of $2.25 per GPU, per hour, assessed on a 24-hour per-day, 7-day per-week basis for the 1,024 GPUs over the remaining 16 months of the Agreement, with a total Phase II Tranche value of $26,910,720.00.”
How we checked this
Checked on October 11, 2026. The cited source supports part of this claim, but not all of it.
Both sides allege that the Second Addendum was signed around April 29, 2024, but the specific price, term and total value come only from Applied Digital's allegations.
Confirmed in the source:
- Both parties allege that on or around April 29, 2024, Character Tech. and Applied Digital entered into a Second Addendum to the Agreement
- Both parties allege the Second Addendum updated the pricing and payment terms of the Phase II Tranche
- Applied Digital alleges the Second Addendum set a price of $2.25 per GPU per hour for 1,024 GPUs over the remaining 16 months, with a total Phase II Tranche value of $26,910,720.00
We could not confirm this from the cited source:
- That the $2.25 rate, 16-month term and $26,910,720.00 total value are established fact rather than Applied Digital's allegation
That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.
What we did: Read our cached copy of RECAP (https://archive.org/download/gov.uscourts.ded.90000/gov.uscourts.ded.90000.38.0.pdf) in full (48,875 characters, retrieved September 9, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital Corporation v. Character Technologies, Inc. — Entry #38
Quote: “Applied Digital alleges that the Second Addendum provided a price of $2.25 per GPU, per hour, assessed on a 24-hour per-day, 7-day per-week basis for the 1,024 GPUs over the remaining 16 months of the Agreement, with a total Phase II Tranche value of $26,910,720.00.”