Project-level financing for 400 MW hyperscaler lease
Company: Applied Digital - Project: Ellendale
The claim, verbatim
In advanced discussions with traditional financing counterparties for project-level financing for the investment-grade 400 MW hyperscaler tenant
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “The Company is in advanced discussions with traditional financing counterparties for this investment-grade tenant”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The release says the company is in advanced discussions for project-level financing with traditional financing counterparties for the investment-grade hyperscaler tenant of the 400 MW lease LOI.
Confirmed in the source:
- Applied Digital is in advanced discussions with traditional financing counterparties
- The discussions concern project-level financing
- The financing relates to an investment-grade tenant
- The tenant is a US-based hyperscaler with which Applied Digital executed an LOI for a 400 MW capacity lease
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/94/applied-digital-reports-fiscal-third-quarter-2024-results/) in full (29,598 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “The Company is in advanced discussions with traditional financing counterparties for this investment-grade tenant”
confirms Earnings Release
Quote: “In advanced discussions for project-level financing for this investment-grade tenant”
confirms Earnings Release
Quote: “The Company is in advanced discussions with traditional financing counterparties for this investment-grade tenant.”
confirms Earnings Release
Quote: “The Company is in advanced discussions with traditional financing counterparties for this investment-grade tenant.”
confirms Earnings Release
Quote: “The Company is in advanced discussions with traditional financing counterparties for this investment-grade tenant.”
confirms Earnings Release
Quote: “The Company is in advanced discussions with traditional financing counterparties for this investment-grade tenant.”