Applied Digital Corporation secured a 210 MW, $5.2 billion, 15-year lease at Delta Forge 2, expanding its contracted revenue backlog to $36 billion across five campuses. This deal highlights the strength of APLD's franchise model, which now has 1.4 GW of critical IT load pre-sold under long-term leases to investment-grade hyperscalers. The company also raised $1.59 billion through senior secured notes to fund construction and repay bridge debt, reducing financial risk. The stock rose about 13% in premarket trading, reflecting investor optimism about APLD's growth potential and improved risk profile despite its premium valuation.
Applied Digital Corporation has priced $1.59 billion in 7.000% senior secured notes due 2031 to finance the construction of its fourth building at the Polaris Forge 1 AI Factory campus in North Dakota. The proceeds will also repay a bridge loan from ...
Applied Digital Corporation announced a proposed private offering of $1.59 billion in senior secured notes due 2031 to fund the construction of a new 150 MW AI data center building at its Polaris Forge 1 campus in North Dakota. The proceeds will also...
Applied Digital has secured a 15-year lease agreement worth approximately $5.2 billion for 210 MW of critical IT load at its new Delta Forge 2 AI Factory campus in a southern U.S. state. This marks the company's fifth AI Factory campus and expands it...
Applied Digital has secured a $5.2 billion long-term lease agreement for 210 MW of critical IT load at its new Delta Forge 2 AI Factory campus in a southern U.S. state. This marks the company's fifth AI Factory campus and expands its franchise model,...
Applied Digital Corporation has secured a revolving credit facility of up to $550 million, arranged by Goldman Sachs, to support the development of its AI-focused data centers and general corporate needs. The facility includes $350 million committed ...
