Polaris Forge 2 hyperscaler lease 200 MW
Company: Applied Digital - Project: Polaris Forge 2
The claim, verbatim
Entered into approximately 15-year lease with U.S.-based investment-grade hyperscaler for 200 MW at Polaris Forge 2
Source (primary)
View 10-K (IR page (ir.applieddigital.com), ir_release)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “we entered into an approximately 15-year lease with a U.S.-based investment-grade hyperscaler for 200 MW of critical IT load at the campus”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The 10-K describes an approximately 15-year lease with a U.S.-based investment-grade hyperscaler for 200 MW of critical IT load at Polaris Forge 2.
Confirmed in the source:
- Applied Digital entered into an approximately 15-year lease for Polaris Forge 2
- The counterparty is a U.S.-based investment-grade hyperscaler
- The lease covers 200 MW of critical IT load at Polaris Forge 2
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/sec-filings/all-sec-filings/content/0001144879-26-000048/0001144879-26-000048.pdf) in full (630,756 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms View 10-K
Quote: “we entered into an approximately 15-year lease with a U.S.-based investment-grade hyperscaler for 200 MW of critical IT load at the campus”