Delta Forge 1 hyperscaler lease - 300 MW, $7.5B contracted
Company: Applied Digital - Project: Delta Forge 1
The claim, verbatim
Signed 15-year take-or-pay lease with high investment-grade hyperscaler for 300 MW critical IT load at Delta Forge 1 (Boyce, Louisiana) providing approximately $7.5 billion in base-term contracted revenue, with initial operations expected calendar year 2027.
Source (primary)
EX-99.1 (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗
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 release states every element of this claim in its Recent Highlights section.
Confirmed in the source:
- Applied Digital signed a 15-year take-or-pay lease with a high investment-grade hyperscaler
- The lease covers 300 MW of critical IT load at Delta Forge 1
- Delta Forge 1 is located in Boyce, Louisiana
- The lease provides approximately $7.5 billion in base-term contracted revenue
- Initial operations 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/sec-filings/all-sec-filings/content/0001144879-26-000044/apldq426earningsreleaseasf.htm) in full (54,584 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms EX-99.1
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.”