Applied Digital (APLD) announced it has entered into a lease agreement with a new U.S. based hyperscaler at its 430 MW AI Factory campus, Delta Forge 1. This lease represents approximately $7.5B in total contracted value over an estimated 15-year lease term and covers 300 megawatts of critical IT load, purpose-built to support the hyperscaler’s artificial intelligence and high-performance compute infrastructure. With this agreement, the tenant becomes Applied Digital’s second U.S. based investment-grade hyperscaler across three AI Factory campuses. This addition expands total contracted lease revenue to over $23B and further diversifies the company’s customer base with a third hyperscale tenant. More than 50% of total contracted revenue is now backed by investment-grade customers.
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