15-year lease with investment-grade hyperscaler at Polaris Forge 2
Company: Applied Digital - Project: Polaris Forge 2
The claim, verbatim
Signed approximately 15-year lease with U.S. based investment-grade hyperscaler for 200 MW at Polaris Forge 2
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “On October 22, 2025, we signed an approximately 15-year lease with a U.S. based investment-grade hyperscaler for 200 MW at Polaris Forge 2.”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The release states the company signed an approximately 15-year lease with a U.S.-based investment-grade hyperscaler for 200 MW at Polaris Forge 2 on October 22, 2025.
Confirmed in the source:
- Applied Digital signed an approximately 15-year lease
- The tenant is a U.S.-based investment-grade hyperscaler
- The lease covers 200 MW at Polaris Forge 2
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/148/applied-digital-reports-fiscal-third-quarter-2026-results/) in full (47,432 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “On October 22, 2025, we signed an approximately 15-year lease with a U.S. based investment-grade hyperscaler for 200 MW at Polaris Forge 2.”
confirms Earnings Release
Quote: “On October 22, 2025, we signed an approximately 15-year lease with a U.S. based investment-grade hyperscaler for 200 MW at Polaris Forge 2.”
confirms Earnings Release
Quote: “we signed an approximately 15-year lease with a U.S. based investment-grade hyperscaler for 200 MW at Polaris Forge 2”
confirms Earnings Release
Quote: “On October 22, 2025, we signed an approximately 15-year lease with a U.S. based investment-grade hyperscaler for 200 MW at Polaris Forge 2.”
confirms Earnings Release
Quote: “On October 22, 2025, we signed an approximately 15-year lease with a U.S. based investment-grade hyperscaler for 200 MW at Polaris Forge 2.”
confirms Earnings Release
Quote: “On October 22, 2025, we signed an approximately 15-year lease with a U.S. based investment-grade hyperscaler for 200 MW at Polaris Forge 2.”