Applied Digital signs $5.2 billion AI data center lease with U.S. hyperscaler

Applied Digital signs $5. 2 billion AI data center lease with U. S.

hyperscaler Illustration shows AI (Artificial Intelligence) letters and robot hand · Reuters Reuters Mon, June 8, 2026 at 10:50 PM GMT+2 1 min read APLD June 8 (Reuters) - Applied Digital has signed a 15-year lease with a U. S. -based hyperscaler at its Delta ‌Forge 2 site which is expected to generate about $5.

2 ‌billion in revenue over the period, sending the company's shares up 8. 7% ​in extended trading. Major technology companies are raising their spending on data centers to support powerful artificial intelligence models, boosting demand for electricity, computing capacity and specialized facilities.

About 70% of Applied Digital's ‌contracted revenue is now ⁠backed by U. S. -based investment-grade hyperscalers, the company said on Monday.

The new agreement covers 210 megawatts ⁠of computing capacity at Delta Forge 2, Applied Digital's new AI Factory campus, under a take-or-pay lease structure. The company did not ​give more ​details on its new customer, ​but said the deal ‌marked its third long-term lease with the same investment-grade hyperscaler. If all renewal options are exercised, the contract could generate about $12.

7 billion in revenue over a 30-year period. Applied Digital's contracted portfolio now spans five campuses, representing 1. 4 gigawatts of critical IT ‌load and about 2.

15 gigawatts of ​grid-connected utility power. The company said its ​contracted base-term lease revenue ​has increased to about $36 billion and would ‌rise to roughly $86 billion if all ​renewal options ​are exercised. Delta Forge 2 will use Applied Digital's waterless cooling technology and high-power density infrastructure designed for AI workloads.

​Initial operations at ‌the campus are expected to begin in the ​first quarter of 2028.