Applied Digital Reaches Significant Milestone, Surpassing 1 GW of Contracted Capacity with US Based High Investment-Grade Hyperscaler Lease at Fourth Campus, Polaris Forge 3 :: Applied Digital Corporation (APLD)

Applied Digital Reaches Significant Milestone, Surpassing 1 GW of Contracted Capacity with US Based High Investment-Grade Hyperscaler Lease at Fourth Campus, Polaris Forge 3

New 15-Year Take-or-Pay Lease Brings Total Contracted Baseline Revenue to $31 Billion, $73 Billion if All Renewal Options are exercised

DALLAS, May 20, 2026 (GLOBE NEWSWIRE) — Applied Digital (NASDAQ: APLD), a designer, builder, and operator of high-performance, sustainably engineered information facilities and colocation companies for synthetic intelligence, cloud, networking, and blockchain workloads, as we speak introduced it has entered right into a long-term lease settlement with the identical US based mostly excessive investment-grade hyperscaler that beforehand signed at Delta Forge 1. The settlement is for the Company’s fourth AI Factory campus, Polaris Forge 3, situated in a northern state and designed to ship 300 MW of essential IT load, supported by roughly 430 MW of grid-connected utility energy.

Key Transaction Highlights:

• 15-year take-or-pay leases with the identical US based mostly excessive investment-grade hyperscaler beforehand signed at Delta Forge 1, valued at roughly $7.5 billion in base-term contracted income, $18.2 billion if all choices are exercised.
• 300 MW of essential IT load, purpose-built for large-scale AI coaching and inference workloads.
• Brings Applied Digital’s complete contracted lease income to $31 billion throughout 4 AI Factory campuses, $73 billion if all renewal choices at every campus are exercised in accordance with their phrases.
• Approximately 65% ​​of contracted income backed by US funding based-grade hyperscalers.
• Total contracted capability throughout 4 AI Factory campuses now reaches 1,200 MW of essential IT load (web) and roughly 1,670 MW of utility energy (gross).

The leases characterize roughly $7.5 billion in complete contracted worth over an estimated 15-year take-or-pay time period and are designed to ship 300 megawatts (MW) of essential IT load to assist the hyperscaler’s synthetic intelligence (AI) and high-performance compute (HPC) infrastructure wants at scale. Including all renewal choices, the agreements carry a complete potential worth of as much as roughly $18.2 billion, which we consider additional strengthens the long-term income visibility of Applied Digital’s portfolio.

With these agreements, we consider Applied Digital additional solidifies its place because the associate of alternative for the world’s most demanding hyperscalers. Polaris Forge 3 represents the Company’s second long-term lease with this US based mostly excessive investment-grade hyperscaler, additional increasing the strategic relationship established at Delta Forge 1 in April 2026.

“Polaris Forge 3 is a direct extension of what we’ve proven works: a disciplined, repeatable AI Factory model that delivers large-scale capacity to the world’s most demanding compute customers,” mentioned Wes Cummins, Chairman and Chief Executive Officer of Applied Digital. (*1*)

“Momentum continues to build for our Company,” Cummins continued, “While executing leases representing 1.2 GW in the past eleven months has been a monumental achievement, we are actively marketing more than 1.7 GW of grid-connected utility power across sites recently added to our portfolio, as well as existing sites.”

Polaris Forge 3 spans greater than 600 acres and is engineered from the bottom up for high-density AI workloads. The campus integrates Applied Digital’s proprietary waterless cooling expertise, high-density energy supply, and superior liquid-cooling structure, all purpose-built to assist the compute densities demanded by next-generation AI infrastructure.

Built on Applied Digital’s confirmed AI Factory mannequin (the identical framework powering Polaris Forge 1, Polaris Forge 2, and Delta Forge 1), Polaris Forge 3 extends the Company’s repeatable campus technique into one other large-scale AI deployment. Initial operations at Polaris Forge 3 are anticipated to start in August 2027.

About Applied Digital

Applied Digital (Nasdaq: APLD) named Best Data Center within the Americas 2025 by Datacloud — designs, builds, and operates high-performance, sustainably engineered information facilities and colocation companies for synthetic intelligence, cloud, networking, and blockchain workloads. Headquartered in Dallas, TX, and based in 2021, the corporate combines hyperscale experience, proprietary waterless cooling, and fast deployment capabilities to ship safe, scalable compute at industry-leading pace and effectivity, whereas creating financial alternatives in underserved communities by its award-winning Polaris Forge AI Factory mannequin.

Learn extra at (*3*) or comply with @APLDdigital on X and LinkedIn.

Forward-Looking Statements
This press launch incorporates “forward-looking statements” as outlined within the Private Securities Litigation Reform Act of 1995, amongst different issues, future working and monetary efficiency, product improvement, market place, enterprise technique and goals, and future financing plans. These statements use phrases, and variations of phrases, akin to “will,” “continue,” “build,” “future,” “increase,” “drive,” “believe,” “look,” “ahead,” “confident,” “proven,” “deliver,” “outlook,” “expect,” “project” and “predict.” Other examples of forward-looking statements might embrace, however aren’t restricted to, (i) statements that replicate views and expectations concerning lease agreements and any present or potential information heart campus improvement; (ii) statements in regards to the high-performance computing (HPC) {industry}; (iii) statements of firm plans and goals, together with the corporate’s evolving enterprise mannequin, or estimates or predictions of actions by suppliers; (iv) statements of future financial efficiency; (v) statements of assumptions underlying different statements and statements in regards to the firm or its enterprise; and (vi) the corporate’s plans to acquire future venture financing. You are cautioned to not depend on these forward-looking statements. These statements are based mostly on present expectations of future occasions and thus are inherently topic to uncertainty. If underlying assumptions show inaccurate or recognized or unknown dangers or uncertainties materialize, precise outcomes might range materially from the corporate’s expectations and projections. These dangers, uncertainties, and different components embrace, amongst others: whether or not or not our clients train the renewal choices below their leases with us (if not, we won’t acknowledge additional income from such buyer below their respective lease); our capacity to finish development of our information heart campuses as deliberate; the lead time of buyer acquisition and leasing choices and associated inside approval processes; adjustments to synthetic intelligence and HPC infrastructure wants and their influence on future plans; prices associated to the HPC operations and technique; our capacity to well timed ship any companies required in connection with completion of set up below lease agreements; our capacity to lift extra capital to fund the continuing datacenter development and operations; our capacity to acquire financing of datacenter leases and extra broadly for our improvement and normal company actions; our dependence on principal clients, together with our capacity to execute and carry out our obligations below our leases with key clients; our capacity to well timed and efficiently construct new internet hosting amenities with the suitable contractual margins and efficiencies; energy or different provide disruptions and gear failures; the lack to conform with laws, developments and adjustments in laws; money stream and entry to capital; availability of financing to proceed to develop our enterprise; decline in demand for our services; upkeep of third get together relationships; and situations within the debt and fairness capital markets. An additional checklist and outline of these dangers, uncertainties, and different components could be discovered within the firm’s most not too long ago filed Annual Report on Form 10-Ok and Quarterly Reports on Form 10-Q, together with within the sections titled “Forward-Looking Statements” and “Risk Factors,” and within the firm’s subsequent filings with the Securities and Exchange Commission. Copies of these filings can be found on-line at www.sec.govon the corporate’s web site (www.applieddigital.com) below “Investors,” or on request from the corporate. Information on this press launch is as of the dates and time intervals indicated herein, and the corporate doesn’t undertake to replace any of the knowledge contained in these supplies, besides as required by legislation.

Media Contact
JSA (Jaymie Scotto & Associates)
(856) 264-7827
jsa_applied@jsa.web

Investor Relations Contacts
Matt Glover or Ralf Esper
Gateway Group, Inc.
(949) 574-3860
APLD@gateway-grp.com

Source: Applied Digital Corporation

Released May 20, 2026