v3.26.3
Balance Sheet Components (Tables)
3 Months Ended
Aug. 31, 2026
Offsetting [Abstract]  
Schedule of Balance Sheet Components
Certain balance sheet components are as follows (in thousands):
August 31, 2026May 31, 2026
Prepaid expenses and other current assets
Short term equipment and utility deposit$560,523 $500,290 
Deferred issuance costs2,966 3,397 
Short term lease incentive8,543 6,231 
Related party receivable (1)
59,334 58,632 
Prepaid expenses29,641 24,471 
Other current assets24,631 20,671 
Total Prepaid expenses and other current assets
$685,638 $613,692 
(1)Balance as of August 31, 2026 consists of the $59.2 million promissory note and $0.1 million of deferred construction costs with Base Electron. See Note 7 - Related Party Transactions for further discussion.
August 31, 2026May 31, 2026
Other assets
Long term lease incentive
$196,223 $199,391 
Restricted cash
414,649 180,415 
Deposits on assets & construction
170,978 47,719 
Goodwill (1)
54,387 54,513 
Lease receivables34,141 21,026 
Deferred lease costs— 10,729 
Derivative assets (2)
169,837 163,283 
Investments in other companies (3)
64,092 123,329 
Investment in related party (4)
2,000 2,000 
Other5,913 28,221 
Total Other assets$1,112,220 $830,710 
(1)Balance as of August 31, 2026 consists of goodwill held at ChronoScale.
(2)Balance as of August 31, 2026 consists of the fair value of derivative assets related to the preferred units and corresponding common units held by APLD HPC TopCo 2’s noncontrolling interest. See Note 8 - Fair Value Measurements, Note 16 - Temporary Equity, and Note 11 - Derivative Assets for further discussion.
(3)Includes $34.7 million of warrants, which are accounted for as derivatives, and $7.8 million of common shares, which are recorded at fair value, issued by B&W to the Company in association with the Company’s investment in B&W. See Note 11 - Derivative Assets for further discussion. The balance also includes a $10.0 million investment by the Company in Corintis SA (“Corintis”) in exchange for Series A1 preferred shares, approximating 4% of Corintis’s outstanding equity. The Series A1 preferred shares are convertible preferred shares with no redemption rights. The investment in Corintis is accounted for at cost under ASC 321. During the quarter ended August 31, 2026, the Company invested in three private companies for a total of $8.2 million, which are included within this balance. These investments are accounted for at cost under ASC 321. See Note 8 - Fair Value Measurements for further discussion on fair value measurements for equity investments and derivative assets.
(4)Includes a $2.0 million investment in Base Electron. See further discussion of the transaction in Note 7 - Related Party Transactions.
August 31, 2026May 31, 2026
Accrued liabilities
Accrued construction payables$563,897 $307,812 
Accrued expenses135,587 81,311 
Accrued interest142,042 151,215 
Other accrued liabilities
8,829 8,155 
Total Accrued liabilities
$850,355 $548,493 
August 31, 2026May 31, 2026
Other current liabilities
Construction retainer$154,749 $95,848 
Other3,524 1,641 
Total Other current liabilities$158,273 $97,489