Applied Digital signs $5.2B 15-year lease for Delta Forge 2
Applied Digital just signed a massive $5.2 billion, 15-year lease with a major (but unnamed) US technology giant to power its Delta Forge 2 campus: think huge server rooms built for advanced AI projects.
This deal covers enough computing power to run some serious AI workloads and sent Applied Digital's stock up nearly 9% after-hours.
Applied Digital's contracted lease revenue $36B
This is their third big contract with the same partner, about 70% of Applied Digital's contracted revenue is now backed by U.S.-based investment-grade hyperscalers.
With this new deal, their contracted base-term lease revenue rises to about $36 billion, and could hit $86 billion if all options are renewed.
Delta Forge 2 is set to go live in early 2028 with eco-friendly cooling technology and high-power infrastructure, showing just how fast demand for AI-ready data centers is growing as more companies dive into artificial intelligence.