Polaris Forge 2 Hyperscaler Right of Refusal
Company: Applied Digital - Project: Polaris Forge 2
The claim, verbatim
U.S. based investment grade hyperscaler holds first right of refusal for additional 800 MW critical IT at Polaris Forge 2, representing full expansion potential
Source (primary)
Applied Digital S-3 filed 2025-12-05 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “The hyperscaler also holds a first right of refusal for an additional 800 MW of critical IT, representing the full expansion potential of the Polaris Forge 2 campus.”
How we checked this
Checked on September 16, 2026. The cited source supports every part of this claim.
The prospectus states the hyperscaler's first right of refusal for an additional 800 MW representing Polaris Forge 2's full expansion potential.
Confirmed in the source:
- The hyperscaler holds a first right of refusal for an additional 800 MW of critical IT
- That 800 MW represents the full expansion potential of the Polaris Forge 2 campus
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315225026369/forms-3.htm) in full (89,712 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital S-3 filed 2025-12-05
Quote: “The hyperscaler also holds a first right of refusal for an additional 800 MW of critical IT, representing the full expansion potential of the Polaris Forge 2 campus.”