Applied Digital (NASDAQ: APLD), a designer, builder, and operator of high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads, today announced it has entered into a lease agreement with a new U.S. based high investment-grade hyperscaler at its 430 MW AI Factory campus, Delta Forge 1.

This lease represents approximately $7.5 billion in total contracted value over an estimated 15-year lease term and covers 300 megawatts (MW) of critical IT load, purpose-built to support the hyperscaler's artificial intelligence (AI) and high-performance compute (HPC) infrastructure.

With this agreement, the tenant becomes Applied Digital's second U.S. based investment-grade hyperscaler across three AI Factory campuses. This addition expands total contracted lease revenue to over $23 billion and further diversifies the company's customer base with a third hyperscale tenant. More than 50% of total contracted revenue is now backed by investment-grade customers.