On June 9, Applied Digital rose 8.95% overnight, trading at $44.69/share, with trading volume of $45,100.
On the news front, the company announced it has signed a 15-year take-or-pay lease contract with an investment-grade U.S. hyperscaler for 210 megawatts of IT capacity at its upcoming Delta Forge 2 location. The commitment is expected to generate approximately $5.2 billion in base revenue, with potential to reach $12.7 billion if the tenant exercises all renewal options over a 30-year period. Initial operations are scheduled to begin in Q1 of 2028. This agreement expands the company's AI factory franchise model to a fifth campus, bringing total contracted portfolio to approximately $36 billion across five AI factory campuses.
Additionally, the company announced it has secured a revolving credit facility of up to $550 million aimed at supporting its strategic growth plans, significantly enhancing financial flexibility to pursue market opportunities and advance long-term development strategy.
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