Applied Digital Smashes Q4 Records, Unveils Ambitious Plans for 2026
Applied Digital has closed out its fiscal fourth quarter on a high note, capping off a transformative year with a slew of impressive achievements. At the heart of these successes lies the company's unwavering commitment to innovation and partnership.
In a call to investors, Applied Digital's Chairman and Chief Executive Officer, Wes Cummins, revealed that the company has signed leases for five campuses, including three in just the past four months. This marks a 125% increase in contracted lease value, underpinned by an astonishing 1.41 GW of contracted critical IT load for all campuses.
The crown jewel of these deals is undoubtedly the trio of campuses secured with a world-class hyperscaler: Delta Forge 1, Polaris Forge 3, and Delta Forge 2. These behemoths boast base term contracted lease revenues totaling approximately $20 billion, solidifying Applied Digital's position as a leader in the data center space.
Not content to rest on its laurels, the company has also achieved significant milestones in its operational capabilities. The delivery of 100 MW of Polaris Forge 1 on time and on budget serves as testament to its prowess in execution. Furthermore, Applied Digital has demonstrated its ability to adapt and scale, with plans underway for five multi-billion dollar AI factory campuses for three separate hyperscalers.
At the heart of this success lies the company's proprietary data center designs and world-class supply chain. This repeatable operating structure, combined with a strong presence among major hyperscalers as an approved supplier, has enabled Applied Digital to deliver a platform that is both differentiated and scalable.
The company's commitment to partnership extends far beyond its relationships with hyperscalers. In the words of Wes Cummins, "We deepened our partnerships with local communities, building trust, making lasting investments, and helping improve residents' quality of life."
As the year draws to a close, Applied Digital finds itself poised for even greater success in 2026. With a formidable platform in place and a keen sense of direction, the company is well-equipped to tackle the challenges that lie ahead. As investors and stakeholders, it's clear that this is an outfit worth keeping a close eye on.
