Applied Digital rises on 300MW Polaris Froge 3 hyperscaler lease deal
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Applied Digital (APLD) shares rose over 8% to $42.75 after announcing a 15-year lease for the Polaris Forge 3 AI campus, expected to generate $7.5B in base revenue. The company now has $31B in contracted lease revenue across four campuses. Despite a strong YTD performance of 52.61%, valuation concerns persist with APLD trading at 23x FY27 sales. Ratings are mixed, with quant at 'hold' and Seeking Alpha analysts at 'buy.'
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