Delta Forge 1 Lease (300 MW)
Company: Applied Digital - Project: Delta Forge 1
The claim, verbatim
Signed a 15-year take-or-pay lease for 300 MW of critical IT load at Delta Forge 1 in Boyce, Louisiana with approximately $7.5 billion in base-term contracted revenue, with initial operations expected to commence in calendar year 2027.
Source (primary)
View PDF (IR page (ir.applieddigital.com), ir_release)
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 earnings release states every element of this claim: the 15-year take-or-pay lease, 300 MW, the Boyce, Louisiana location, about $7.5 billion in base-term revenue, and expected 2027 start.
Confirmed in the source:
- Applied Digital signed a 15-year take-or-pay lease at Delta Forge 1
- 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/sec-filings/all-sec-filings/content/0001144879-26-000044/0001144879-26-000044.pdf) in full (57,639 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms View PDF
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.”