---
title: "Applied Digital leaps on $5.2 billion deal with undisclosed US hyperscaler"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/289170311.md"
description: "Applied Digital's stock surged over 11% in premarket trading following a new lease agreement with an undisclosed US hyperscaler. The deal, valued at least $5.2 billion over 15 years with potential renewal options reaching $12.7 billion, covers 210 MW of IT load at the Delta Forge 2 AI Factory campus. Operations are expected to begin in Q1 2028, bringing the company's total base-term lease revenue to $36 billion."
datetime: "2026-06-09T10:00:12.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/289170311.md)
  - [en](https://longbridge.com/en/news/289170311.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/289170311.md)
---

# Applied Digital leaps on $5.2 billion deal with undisclosed US hyperscaler

Like other AI-adjacent stocks, Applied Digital has hit a bit of a speed bump of late, caught up in the malaise that sent the wider market tumbling at the end of last week. However, after unveiling a new lease agreement with an undisclosed US-based hyperscaler worth at least **$5.2 billion**, the stock is soaring once again today in premarket trading, up more than 11%.

The deal is with a “high investment-grade hyperscaler,” per the company’s press release, and will cover **210 MW** of critical IT load at the company’s Delta Forge 2 AI Factory campus under a take-or-pay structure (in which the buyer is obliged to pay a minimum of $5.2 billion over 15 years) with renewal options.

If all renewal options are exercised, the deal would be worth approximately $12.7 billion over a 30-year total term. Initial operations at the Delta Forge 2 site are expected to commence in the first quarter of 2028.

Emphasizing the company’s “franchise model — a core team of design, construction, and operations professionals replicated across every campus, in every market,” CEO Wes Cummins noted that the latest lease is Applied Digital’s third long-term agreement with the same hyperscaler. The agreement also brings the company’s total base-term lease revenue to $36 billion, rising to $86 billion if all options are taken up.

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