Applied Digital signs $5.2 billion AI data center lease with U.S. hyperscaler - The Mighty 790 KFGO
What's documented Applied Digital 15-year lease worth $5.2 billion (210 MW) at Delta Forge 2, Q1 2028 launch.
Applied Digital signed a 15-year lease with an unnamed US-based hyperscaler at its Delta Forge 2 campus, expected to generate about $5.2 billion in revenue over the term. The take-or-pay deal covers 210 megawatts of capacity, with initial operations expected in the first quarter of 2028. If all renewal options are exercised, the contract could reach about $12.7 billion over 30 years.
- 15-year lease worth about $5.2 billion in revenue
- Covers 210 MW at the Delta Forge 2 AI Factory campus
- Third long-term lease with the same investment-grade hyperscaler
- About 70% of contracted revenue now from US investment-grade hyperscalers
- Initial operations expected in Q1 2028; shares rose 8.7% after hours