Applied Digital (NASDAQ:APLD) said on Wednesday that it has entered into a lease agreement with a U.S.-based investment-grade hyperscaler at its purpose-built Polaris Forge 2 Campus currently under construction near Harwood, North Dakota.
This lease represents approximately $5B in total contracted revenue over an estimated 15-year lease term and covers 200 megawatts of critical IT load purpose-built to support the Hyperscaler’s artificial intelligence and high-performance compute infrastructure.
The hyperscaler also holds a first right of refusal for an additional 800 MW of critical IT, representing the full expansion potential of the 1-gigawatt Polaris Forge 2 Campus.
With this agreement, Applied Digital’s total leased capacity with two of the world’s largest hyperscalers across its Polaris Forge 1 and Polaris Forge 2 campuses in North Dakota has now reached 600 MW.
Applied Digital (NASDAQ:APLD) shares were up more than 3% in premarket trading.
