Advanced negotiations with traditional financing institutions for expansion funding
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
The company is in advanced negotiations with traditional financing institutions to secure funding for the 300 MW HPC expansion projects at Ellendale.
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “We are also in advanced negotiations with traditional financing institutions to secure funding for these projects.”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The release says the company is in advanced negotiations with traditional financing institutions for 'these projects,' referring to the Ellendale HPC buildings including the 300 MW expansion; the wording may also cover the 100 MW facility.
Confirmed in the source:
- Applied Digital is in advanced negotiations with traditional financing institutions
- The negotiations aim to secure funding for its Ellendale HPC projects, including the planned 300 MW expansion
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/109/applied-digital-reports-fiscal-first-quarter-2025-results/) in full (29,046 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “We are also in advanced negotiations with traditional financing institutions to secure funding for these projects.”