Business UpdateJun 9, 2026, 05:41 PM
Applied Digital Signs $5.2B Lease for 210 MW AI Factory Campus
AI Summary
Applied Digital Corp. announced a long-term lease agreement for 210 MW of critical IT load at its Delta Forge 2 AI Factory campus. The 15-year take-or-pay lease with a U.S. hyperscaler is valued at approximately $5.2 billion in base-term revenue, potentially reaching $12.7 billion with renewal options. This expansion brings the company's total contracted portfolio to roughly $36 billion across five campuses. Additionally, Applied Digital updated its investor presentation, which is now available on its website.
Key Highlights
- Applied Digital signs a 15-year, 210 MW lease at its Delta Forge 2 AI Factory campus with a U.S. hyperscaler.
- The lease represents approximately $5.2 billion in base-term contracted revenue, or $12.7 billion including renewal options.
- This brings Applied Digital's total contracted portfolio to approximately $36 billion across five AI Factory campuses.
- The company's contracted portfolio now spans 1.4 GW of critical IT load and 2.15 GW of grid-connected utility power.
- Approximately 70% of contracted revenue is backed by U.S. based investment-grade hyperscalers.
- Initial operations at Delta Forge 2 are anticipated to commence in Q1 2028.
- The company also posted an updated investor presentation to its website.
Price Impact
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