DealsApr 23, 2026, 08:02 AM
Applied Digital secures $7.5B AI data center lease for 300 MW
AI Summary
Applied Digital announced a 15-year lease agreement worth approximately $7.5 billion with a new U.S. based investment-grade hyperscaler at its Delta Forge 1 campus. This deal covers 300 MW of IT load for AI and HPC infrastructure, increasing total contracted lease revenue to over $23 billion and diversifying its customer base. The company also expects to secure up to $600 million in new credit facilities to fund continued development and general working capital needs.
Key Highlights
- Secured $7.5 billion lease for 300 MW AI data center.
- 15-year lease term with a new investment-grade hyperscaler.
- Total contracted revenue now exceeds $23 billion.
- Over 50% of revenue backed by investment-grade customers.
- Expects up to $600 million in new credit facilities.