NOI target - $1 billion within five years
Company: Applied Digital
The claim, verbatim
Target to reach $1 billion NOI within the next five years with tenant signing at Polaris Forge 2
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “The tenant signing at our second campus should put us firmly on the path toward our $1 billion NOI target within the next five years.”
How we checked this
Checked on September 16, 2026. The cited source supports every part of this claim.
The October 9, 2025 fiscal Q1 2026 press release states the $1 billion NOI target within five years and ties it to a tenant signing at the second campus, which the same release identifies as Polaris Forge 2.
Confirmed in the source:
- Applied Digital states a $1 billion NOI target to be reached within the next five years
- Applied Digital states that a tenant signing at its second campus (Polaris Forge 2) should put it firmly on the path toward that $1 billion NOI target
- The second campus referenced is Polaris Forge 2, near Harwood, North Dakota
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/131/applied-digital-reports-fiscal-first-quarter-2026-results/) in full (34,764 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “The tenant signing at our second campus should put us firmly on the path toward our $1 billion NOI target within the next five years.”