Polaris Forge 3 contracted revenue and delivery
Company: Applied Digital
The claim, verbatim
Polaris Forge 3 (300 MW) contracted for approximately $7.5 billion of revenue over 15-year base term, with expected delivery from second half 2027 through second half 2028
Source (primary)
View 10-K (IR page (ir.applieddigital.com), ir_release)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “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
Checked on October 10, 2026. The cited source supports every part of this claim.
The 10-K gives Polaris Forge 3 as 300 MW, about $7.5 billion of contracted revenue over the 15-year base term, with delivery expected from 2H 2027 through 2H 2028.
Confirmed in the source:
- Polaris Forge 3 has 300 MW of contracted critical IT load
- The Polaris Forge 3 contracts represent approximately $7.5 billion of revenue over the 15-year base term
- Expected delivery at Polaris Forge 3 runs from the second half of calendar 2027 through the second half of calendar 2028
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: “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”