Applied Digital Announces Major Lease Agreement, Boosting Market Cap by $1 Billion
Applied Digital (APLD) saw its market cap increase by $1 billion after announcing a 15-year, 300 megawatt lease for Delta Forge 1 with a U.S. hyperscaler, adding $7.5 billion in contracted revenue. The deal improves revenue visibility and validates demand for its AI data center capacity, with the company now having over $23 billion in total contracted lease revenue.
Tickers: $APLD
Topics: AI data centers contracted revenue EBITDA market cap increase stock price movement