Polaris Forge 3 contracted capacity and revenue
Company: Applied Digital - Project: Polaris Forge 3
The claim, verbatim
Polaris Forge 3 - 300 MW critical IT load contracted under two 15-year leases with high investment-grade hyperscaler, representing approximately $7.5 billion of contracted revenue over base term, with expected delivery 2H 2027 through 2H 2028
Source (primary)
Applied Digital 10-K filed 2026-07-29 (SEC EDGAR, sec_filing)
View cached copy (2026-08-30)Live source ↗
Quote: “The aggregate 300 MW of critical IT load is contracted under two approximately 15-year leases (with three five-year renewal options) with a high investment-grade hyperscaler, representing approximately $7.5 billion of contracted revenue over the base term, with expected delivery beginning in the second half of calendar year 2027 through the second half of calendar year 2028.”
How we checked this
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Additional evidence
confirms Applied Digital 10-K filed 2026-07-29
Quote: “The aggregate 300 MW of critical IT load is contracted under two approximately 15-year leases (with three five-year renewal options) with a high investment-grade hyperscaler, representing approximately $7.5 billion of contracted revenue over the base term, with expected delivery beginning in the second half of calendar year 2027 through the second half of calendar year 2028.”