Applied Digital signs $5.2 billion AI data center lease with US hyperscaler
Applied Digital has signed a 15-year lease with a US-based hyperscaler at its Delta Forge 2 site which is expected to generate about $5.2 billion in revenue over the period, sending the company’s shares up 8.7% in extended trading.
Major technology companies are raising their spending on data centers to support powerful artificial intelligence models, boosting demand for electricity, computing capacity and specialized facilities.
About 70% of Applied Digital’s contracted revenue is now backed by U.S.-based investment-grade hyperscalers, the company said on Monday.
