Applied Digital Stock Surges on Major Lease Agreement with Hyperscaler
Shares of Applied Digital (NASDAQ: APLD) surged after the company announced a new $7.5 billion, 15-year lease agreement for its Polaris Forge 3 data center site with an undisclosed hyperscaler. The deal is part of a growing trend in cloud infrastructure spending and expands the firm's contracted revenue to $31 billion across four campuses.
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Topics: AI infrastructure data centers hyperscalers long-term contracts