Applied Digital Corp (NASDAQ:APLD) shares are moving higher in Monday’s after-hours session after the company signed a lease agreement for Delta Forge 2.
- Applied Digital stock is among today’s top performers. Why is APLD stock surging?
Applied Digital Signs 210 MW Lease
Applied Digital has entered into a new long-term lease agreement with an undisclosed U.S.-based hyperscaler. The agreement covers 210 MW of IT load under a 15-year take-or-pay structure, representing $5.2 billion in base revenue.
The company said the agreement could represent up to $12.7 billion in total revenue over 30 years if all options are exercised.
Delta Forge 2 is an AI Factory campus located in a new southern state and represents the company’s fifth AI campus overall. The news comes after the company announced a long-term lease agreement for its fourth location, Polaris Forge 3, late last month.
“Two years ago, we made a deliberate decision to build a company that scales, not just builds data centers,” said Wes Cummins, chairman and CEO of Applied Digital. “Continued demand from leading hyperscalers across five campuses is strong validation of our model.”
Applied Digital noted that this agreement represents the company’s third long-term lease agreement with the same undisclosed hyperscaler.
Delta Forge 2 integrates waterless cooling technology and high-power density infrastructure, purpose-built for the compute required by large-scale AI training and inference workloads. The new campus is expected to be ready for initial operations in the first quarter of 2028.
APLD Shares Surge After The Close
APLD Price Action: Applied Digital shares were up 8.45% in after-hours, trading at $44.35 at the time of publication on Monday, according to Benzinga Pro.
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