Utilized Digital has signed a 15-year buy-or-pay lease on its fourth synthetic intelligence (AI) manufacturing unit campus, Polaris Forge 3, with the identical US-based investment-grade hyperscaler that signed on Delta Forge 1 in April 2026.
Key takeaways:
- Utilized Digital indicators a 15-year, $7.5 billion lease on Polaris Forge 3, bringing whole contracted income to $31 billion.
- APLD now has 1,200 MW of contracted AI capability throughout 4 campuses, with 65% supported by funding grade hyperscalers.
- Polaris Forge 3 will start operations in August 2027 and APLD will actively market 1.7 GW of further energy.
Utilized Digital Raises Complete Contracted Income to $31 Billion with Fourth AI Campus Deal
Utilized Digital Corp. (Nasdaq: APLD), the Dallas-based synthetic intelligence (AI) infrastructure supplier, bitcoin miner and information heart developer, introduced the deal on Could 20, 2026. The deal covers 300 megawatts of essential IT load at Polaris Forge 3, a campus positioned in a northern state and supported by roughly 430 MW of grid-connected electrical energy.
The lease has a base time period worth of roughly $7.5 billion and as much as $18.2 billion if all renewal choices are exercised.
The discharge particulars that the deal brings Utilized Digital’s whole contracted leasing income to $31 billion throughout 4 AI Manufacturing facility campuses, or $73 billion together with all renewal choices. The full contracted essential computing load now stands at 1,200 MW web, with roughly 1,670 MW of gross utility energy. About 65% of that contracted income is backed by US-based funding grade hyperscalers.
Wes Cummins, president and CEO of Utilized Digital, known as the deal a continuation of a confirmed framework. “This second 300 MW lease with the identical US-based high-investment grade hyperscaler we partnered with on Delta Forge 1 displays the belief now we have constructed via disciplined execution and our potential to persistently advance large-scale AI infrastructure initiatives,” Cummins defined.
The corporate has signed leases representing 1.2 GW of capability over 11 months. Cummins added that Utilized Digital is actively advertising greater than 1.7 GW of further grid-connected electrical energy at current and lately added websites.
Polaris Forge 3 covers greater than 600 acres and is designed for high-density AI workloads. The campus makes use of Utilized Digital’s patented waterless cooling know-how, high-density energy supply, and superior liquid cooling structure. Operations are anticipated to start in August 2027.
The campus follows the identical AI Manufacturing facility mannequin utilized at Polaris Forge 1, Polaris Forge 2 and Delta Forge 1. Utilized Digital describes the mannequin as repeatable and designed particularly to help large-scale AI coaching and inference infrastructure on the compute densities demanded by next-generation methods.
Utilized Digital is one in all many bitcoin mining operators that has transitioned into AI infrastructure merchandise and high-performance computing (HPC) workloads. Within the final 5 days, APLD inventory is up 6.8% and to date this yr, the inventory is up greater than 85%.
