Applied Digital secures $7.5B Delta Forge 1 lease for 300MW
Applied Digital has scored a huge $7.5 billion lease with a major (but still unnamed) US tech giant, all to ramp up its AI infrastructure.
The agreement gives them 300 megawatts of computing power at their new Delta Forge 1 facility in the southern US a massive more than 500-acre site built for big-league AI projects.
Applied Digital contracted revenue tops $23B
With this deal, Delta Forge 1 is set to kick off operations by mid-2027 and will handle some serious AI workloads.
It also marks Applied Digital's second "hyperscale" client, pushing their total contracted revenue past $23 billion and making over one-half of it investment-grade.
On top of that, the company is looking to raise another $600 million for more expansion, and investors seem excited—their shares jumped over 9% after the news broke.