Applied Digital Corp (NASDAQ:APLD) shares are trading higher in Wednesday’s after-hours session after the company announced another long-term hyperscaler lease agreement.



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<li>Applied Digital stock is among today’s top performers. Why is APLD stock surging?</li>
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<h2>Applied Digital Surpasses 1 GW Of Contracted Capacity</h2>



Applied Digital announced it entered into a long-term lease agreement with the same undisclosed hyperscaler that previously signed a deal at the company’s Delta Forge 1. 



The agreement marks Applied Digital’s fourth AI factory campus, Polaris Forge 3. The new campus will be located in a Northern state and deliver 300 MW of critical IT load for large-scale AI training and inference workloads.



“Polaris Forge 3 is a direct extension of what we’ve proven works: a disciplined, repeatable AI Factory model that delivers large-scale capacity to the world’s most demanding compute customers,” said Wes Cummins, chairman and CEO of Applied Digital.



“This second 300 MW lease with the same U.S.-based high investment-grade hyperscaler we partnered with at Delta Forge 1 reflects the confidence we’ve built through disciplined execution and our ability to consistently advance large-scale AI infrastructure projects.”



The deal involves 15-year take-or-pay leases valued at approximately $7.5 billion in base contracted revenue, which could expand to $18.2 billion if all options are exercised. Applied Digital said the deal brings its total contracted lease revenue up to $31 billion. 



<h2>APLD Shares Pop After The Close</h2>



APLD Price Action: Applied Digital shares were up 6.28% in after-hours, trading at $42 at the time of publication on Wednesday, according to Benzinga Pro.



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Applied Digital Corp (NASDAQ:APLD) shares surged 6.28% in after-hours trading following the announcement of a long-term lease agreement with a hyperscaler for its Polaris Forge 3 AI factory campus. This deal, valued at approximately $7.5 billion, could expand to $18.2 billion, bringing total contracted lease revenue to $31 billion. CEO Wes Cummins highlighted the company's proven AI factory model and the confidence built through disciplined execution.

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Applied Digital Stock Jumps After The Bell: Here's Why