Wed, Oct 22, 2025
Applied Digital signs $5 billion lease with undisclosed hyperscaler at Polaris Forge 2
Key points
- 200MW, ~15-year lease, ROFR on +800MW; phased online 2026-2027
Deal
Undisclosed customerOct 2025
SitePolaris Forge 2
Contracted capacity200 MW
Contract value$5B
Duration15 years
Expected launchH2 2026