On June 15, Applied Digital rose 5.39% in pre-market trading, trading at $44.9/share, with turnover of $902,000.
On the news front, the company recently signed a 15-year lease agreement with a U.S. investment-grade hyperscale cloud provider covering 210 megawatts of IT capacity at its new Delta Forge 2 AI Factory campus, expected to generate approximately $5.2 billion in base revenue. The deal extends Applied Digital's AI Factory franchise model to a fifth campus, bringing the total contracted portfolio to approximately $36 billion. Under a take-or-pay structure, the contract could yield up to $12.7 billion if all renewal options are exercised over 30 years, with initial operations scheduled for Q1 2028.
Additionally, the company secured a $550 million revolving credit facility and announced plans to issue $1.59 billion in senior secured notes due 2031 to fund expansion at its Polaris Forge 1 data center in North Dakota. Multiple financing and order catalysts continue to reinforce market confidence in Applied Digital's AI data center business expansion prospects.
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