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Applied Digital Signs 210 MW Lease to Expand AI Factory Footprint

Applied Digital signed a 15-year, 210 MW lease agreement with a major U.S. hyperscaler at its Delta Forge 2 site, marking its fifth AI Factory campus. The deal is projected to generate approximately $5.2 billion in revenue, causing company shares to rise 8.7% following the announcement. Additionally, the company priced a $1.59 billion offering of senior secured notes to fund the construction of a new building at its Polaris Forge 1 facility.