Source: Applied Digital has asked tenants like Oracle and Meta for billions in guarantees since at least last year to secure power before finalizing leases (Bloomberg)

Applied Digital’s move to seek billions in guarantees from tenants like Oracle and Meta highlights a new bottleneck in AI expansion: access to power is now as strategically important as access to compute. For CIOs and technology leaders, this signals that AI infrastructure commitments may increasingly require long-term financial guarantees, tighter coordination with finance and real estate, and earlier capacity planning to avoid delays, cost overruns, or stranded demand.