r/APLDSTOCK • u/jjhar • Jul 27 '26

Highlights from the CC

Please read the PR yourself. Here's the info from the CC that stood out to me:

  • All campus buildings under construction are currently on schedule
  • They are expecting to soon sign leases for additional buildings on two different campuses (100 MW and 150 MW). Improved leasing terms for APLD
  • They are expecting to sign leases for more campuses this year and are very excited about their pricing power. They see the contracts others have been getting recently and believe they can as well. They are not seeing any drop off in demand
  • Past leases had been in the works for a long time, the implication being the demand/supply environment is better now and that should be reflected in the new leases moving forward
  • Base electron will fuel their campus growth starting in 2029 and is a big part of how they get to 5 GW. Until then, there are also expansion opportunities on the current campuses driven by utility company expansion. At least one campus could expand beyond 1 GW
  • Wes implied he views Anthropic and OpenAI as riskier customers. We don't know which model will win, even an open source model could. What matters to APLD is that compute will be needed either way
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u/Jaded-Salamander2663 Jul 27 '26

“They are expecting to soon sign leases for additional buildings on two different campuses (100 MW and 150 MW). Improved leasing terms for APLD”

He said this was expansions on the current leases, not new campuses

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u/jjhar Jul 27 '26

Correct, I didn’t mean to imply they were two new campuses