Business UpdateJul 29, 2026, 04:14 PM
Applied Digital Secures $36.2B in HPC Leases for 1,410 MW Capacity
AI Summary
Applied Digital Corp. reported securing approximately $36.2 billion in total contracted revenue from long-term leases for 1,410 MW of critical IT load across five high-performance computing (HPC) data center campuses as of May 31, 2026. The company has successfully pivoted its core business from blockchain hosting to purpose-built AI factories, with significant expansion plans including over 1.5 GW of critical IT load under construction or secured. Additionally, Applied Digital completed the separation of its cloud services business, ChronoScale, in May 2026, retaining approximately 97% ownership.
Key Highlights
- Secured ~$36.2 billion in contracted revenue from HPC leases.
- Total contracted critical IT load of 1,410 MW across five campuses.
- Polaris Forge 1 has 400 MW contracted with CoreWeave.
- Polaris Forge 2 has 200 MW contracted with an investment-grade hyperscaler.
- Polaris Forge 3 has 300 MW contracted, representing ~$7.5 billion revenue.
- Delta Forge 1 has 300 MW contracted, representing ~$7.5 billion revenue.
- Delta Forge 2 has 210 MW contracted, representing ~$5.2 billion revenue.
- Completed separation of ChronoScale cloud business, retaining ~97% ownership.
Price Impact
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