Applied Digital Surges 9% After-Hours on $5.2B AI Campus Deal

Applied Digital (APLD) surged nearly 9% in after-hours trading on Monday after announcing a 210 megawatt, 15-year take-or-pay lease with a U.S.-based investment-grade hyperscaler at its Delta Forge 2 AI campus. The deal adds approximately $5.2 billion in base-term contracted revenue, bringing the company's total contracted portfolio to around $36 billion across five campuses. About 70% of contracted revenue is now backed by investment-grade hyperscalers.
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