Applied Digital enters pact with hyperscaler for fourth AI Factory campus

Applied Digital (APLD) announced it has entered into a long-term lease agreement with the same U.S. based hyperscaler that previously signed at Delta Forge 1. The agreement is for the company’s fourth AI Factory campus, Polaris Forge 3, located in a northern state and designed to deliver 300 MW of IT load, supported by approximately 430 MW of grid-connected utility power. The 15-year take-or-pay leases with the same U.S. based high investment-grade hyperscaler previously signed at Delta Forge 1 are valued at approximately $7.5B in base-term contracted revenue, $18.2B if all options are exercised. The agreement brings Applied Digital’s total contracted lease revenue to $31B across four AI Factory campuses, $73B if all renewal options at each campus are exercised in accordance with their terms. Approximately 65% of contracted revenue backed by U.S. based investment-grade hyperscalers. Total contracted capacity across four AI Factory campuses now reaches 1,200 MW of IT load and approximately 1,670 MW of utility power.

Meet Samuel – Your Personal Investing Prophet