High Investment Grade Hyperscaler Polaris Forge 3 lease
Company: Applied Digital - Project: Polaris Forge 3
The claim, verbatim
Applied Digital signed two 15-year leases with three 5-year renewal options for 2 buildings at Polaris Forge 3 with a U.S. based High Investment Grade Hyperscaler, utilizing 300 MW of IT load.
Source (primary)
Investor Presentation (IR page (ir.applieddigital.com), ir_presentation)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “U.S. Based High Investment Grade Hyperscaler - Signed two 15-year leases with three 5-year options for 2 buildings at Polaris Forge 3, utilizing 300 MW of IT load”
How we checked this
Checked on September 16, 2026. The cited source supports every part of this claim.
The company timeline states each element, and the Polaris Forge 3 slide repeats the 300 MW, two leases, high investment grade counterparty and three 5-year options.
Confirmed in the source:
- Applied Digital signed two leases for 2 buildings at Polaris Forge 3 with a U.S.-based high investment grade hyperscaler
- The Polaris Forge 3 leases have 15-year base terms with three 5-year renewal options
- The Polaris Forge 3 leases cover 300 MW of IT load
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/_assets/_0d036ffb66b2bfe154912829a47150be/appliedblockchaininc/db/2905/27269/pdf/APLD_INV_June2026_Updated-compressed.pdf) in full (47,679 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Investor Presentation
Quote: “U.S. Based High Investment Grade Hyperscaler - Signed two 15-year leases with three 5-year options for 2 buildings at Polaris Forge 3, utilizing 300 MW of IT load”