Applied Digital Stock Soars 7% Pre-Market On $5B AI Factory Lease With US Hyperscaler

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  • Applied Digital said that this was a nearly 15-year lease agreement to deliver 200 MW of critical IT capacity at Polaris Forge 2.
  • The company noted that the 200 MW capacity would support the hyperscaler’s artificial intelligence (AI) and high-performance compute (HPC) infrastructure. 
  • Applied Digital’s total leased capacity with two hyperscalers across its Polaris Forge 1 and Polaris Forge 2 campuses in North Dakota has now reached 600 MW.

Applied Digital (APLD) shares jumped nearly 7% before the bell on Wednesday after the company announced a $5 billion AI factory lease with a U.S.-based investment-grade hyperscaler at Polaris Forge 2 campus, currently under construction near Harwood, North Dakota. 

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The company said this was a nearly 15-year lease agreement to deliver 200 megawatts (MW) of critical IT capacity at Polaris Forge 2 to support the hyperscaler’s artificial intelligence (AI) and high-performance compute (HPC) infrastructure. 

What To Know About Applied Digital’s AI Factory Lease

Applied Digital said 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 (GW) Polaris Forge 2 Campus.

The company said that with this agreement, Applied Digital’s total leased capacity with the two hyperscalers across its Polaris Forge 1 and Polaris Forge 2 campuses in North Dakota has now reached 600 MW.

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