Applied Digital Secures $5.2B Lease, Boosting Total Contracted Revenue to $36B
APLD has more than doubled off its 52-week low of $9.02.
Summary
Applied Digital announced a new 15-year lease agreement for 210 MW at its Delta Forge 2 campus with a high investment-grade hyperscaler, representing approximately $5.2 billion in base-term contracted revenue. This is the third long-term lease with the same hyperscaler and follows recent announcements of other major contracts and significant financing. The agreement expands the company's total contracted portfolio to approximately $36 billion across five AI Factory campuses, with 70% now backed by investment-grade hyperscalers. This substantial increase in contracted revenue validates their AI Factory franchise model and demonstrates strong demand for their high-performance data center services. Initial operations for Delta Forge 2 are anticipated to commence in Q1 2028.
At the time of this announcement, APLD was trading at $44.48 on NASDAQ in the Technology sector, with a market capitalization of approximately $11.7B. The 52-week trading range was $9.02 to $50.73. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.