Polaris Forge 3 delivery and contracted revenue
Company: Applied Digital - Project: Polaris Forge 3
The claim, verbatim
Polaris Forge 3, 300 MW campus under construction, contracted under 15-year leases with high investment-grade hyperscaler for $7.5 billion contracted revenue over 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: “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 View 10-K
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”