Delta Forge 1 – 300 MW hyperscaler lease
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 of critical IT load at Delta Forge 1 in Boyce, Louisiana, providing approximately $7.5 billion in base-term contracted revenue, with initial operations expected to commence calendar year 2027.
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
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 October 10, 2026. The cited source supports every part of this claim.
The press release states every element of this claim: the lease term, tenant type, capacity, location, contract value and expected start of operations.
Confirmed in the source:
- Applied Digital signed a 15-year take-or-pay lease with a high investment-grade hyperscaler
- The Delta Forge 1 lease covers 300 MW of critical IT load
- Delta Forge 1 is located in Boyce, Louisiana
- The Delta Forge 1 lease provides approximately $7.5 billion in base-term contracted revenue
- Initial operations at Delta Forge 1 are expected to commence in calendar year 2027
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/159/applied-digital-reports-fiscal-fourth-quarter-and-full-year/) in full (55,581 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
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.”
confirms Earnings Release
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”
confirms Earnings Release
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”
confirms Earnings Release
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”