Applied Digital (NASDAQ:APLD), a designer, builder, and operator of high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads, today announced it has entered into a long-term lease agreement with the same U.S. based high investment-grade hyperscaler that previously signed at Delta Forge 1. The agreement is for the Company's fourth AI Factory campus, Polaris Forge 3, located in a northern state and designed to deliver 300 MW of critical IT load, supported by approximately 430 MW of grid-connected utility power.

Key Transaction Highlights:

  • 15-year take-or-pay leases with the same U.S. based high investment-grade hyperscaler previously signed at Delta Forge 1, valued at approximately $7.5 billion in base-term contracted revenue, $18.2 billion if all options are exercised.
  • 300 MW of critical IT load, purpose-built for large-scale AI training and inference workloads.
  • Brings Applied Digital's total contracted lease revenue to $31 billion across four AI Factory campuses, $73 billion if all renewal options at each campus are exercised in accordance with their terms.
  • Approximately 65% of contracted revenue backed by U.S. based investment-grade hyperscalers.
  • Total contracted capacity across four AI Factory campuses now reaches 1,200 MW of critical IT load (net) and approximately 1,670 MW of utility power (gross).