AI Compute Deal Ledger · APLD · Free Dataset · CC BY 4.0

Applied Digital: The AI Deal Record

Every Applied Digital deal in the ledger, with the source on every row. Binding base-term value: $20.2B across 810 MW of contracted IT capacity. Snapshot disclosures (backlog restatements, order intake, program envelopes) are listed but never summed.

Binding value

$20.2B

1 binding deals, base terms

Binding capacity

810 MW

contracted IT load with disclosed MW

Not binding

·

0 LOI / framework / reported

Deal by Deal

2026-07-27BindingSnapshot, not summed

Applied Digital (Provider) · Various AI developers (Buyer)

Value
$36B
Capacity / term
1.41 GW
First revenue
not disclosed

SNAPSHOT ROW, excluded from summed aggregates: Applied Digital's total contracted long-term lease value of $36B across 1.41 GW of contracted critical IT load for all campuses, as restated at fiscal Q4 2026 results. Approximately $20B of this was added in the quarter (see apld-hyperscaler-leases-2026-07, which IS a countable deal row inside this total).

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2026-07-27Binding

Applied Digital (Provider) · Undisclosed hyperscaler (Applied Digital) (Buyer)

Value
approximately $20.2B
Capacity / term
810 MW · 15y
$1.66M per MW-year
First revenue
not disclosed

Three 15-year take-or-pay lease agreements with a single investment-grade hyperscaler, ~$20.2B combined revenue over 810 MW, disclosed with fiscal Q4 2026 results. Treated as one package row because the three leases were announced together with a single counterparty and combined value.

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Company-Stated Totals

$36B (total backlog, as of 2026-07-27) as stated by the company. These snapshots overlap the discrete deals above, which is exactly why the ledger never adds them to anything.

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Part of the free AI Compute Deal Ledger by Regards of Wallstreet, licensed CC BY 4.0. Cite it, chart it, link it.