APLD Applied Digital Corporation
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Executive Summary
Applied Digital announced a $7.5 billion, 15-year lease with a new U.S. investment-grade hyperscaler for 300 MW at its Delta Forge 1 AI Factory campus, expanding total contracted revenue to over $23 billion. The company also expects to secure two $300 million senior secured credit facilities to fund ongoing data center development.
Key Financial Metrics
Actionable Insight
This lease significantly de-risks APLD's revenue visibility and strengthens its balance sheet profile with investment-grade exposure. Traders should monitor the closing of the $600 million in credit facilities as a near-term catalyst for execution confidence. The mid-2027 ramp-up timeline implies gradual revenue recognition, but the scale confirms APLD as a key AI infrastructure player.
Key Facts
- APLD signed a $7.5 billion, 15-year lease with a new U.S. investment-grade hyperscaler for 300 MW at Delta Forge 1.
- Total contracted lease revenue now exceeds $23 billion, with over 50% backed by investment-grade customers.
- Initial operations at Delta Forge 1 are expected to begin in mid-2027.
- Company expects to close two $300 million credit facilities: one bridge and one revolving, to fund development and working capital.
Financial Impact
$7.5 billion in contracted revenue over 15 years, plus $600 million in anticipated credit facilities
Risk Factors
- Execution risk in delivering Delta Forge 1 on schedule by mid-2027
- Failure to close the $600 million credit facilities on favorable terms or at all
- Dependence on large customers and hyperscaler demand sustainability
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3279814 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 12, 2026
1d ago
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Institutional Cluster
| $41.84 awaiting T+20 | awaiting T+20 | — | $42.70 (+2.07%) |
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Jun 11, 2026
2d ago
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Institutional Cluster
| $39.45 awaiting T+20 | awaiting T+20 | — | $42.70 (+8.24%) |
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Jun 9, 2026
4d ago
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8-K
| $45.00 awaiting T+20 | awaiting T+20 | — | $42.70 (−5.11%) |
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May 5, 2026
5w ago
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8-K
| $44.24 $44.71 | ▲ +1.06% | ▼ −1.72% | $42.70 (−3.48%) |
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Apr 27, 2026
6w ago
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Insider Cluster
| $33.67 $45.14 | ▲ +34.07% | ▲ +29.11% | $42.70 (+26.82%) |
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Apr 23, 2026
7w ago
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8-K
| $36.35 $39.52 | ▲ +8.72% | ▲ +4.09% | $42.70 (+17.47%) |
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Apr 23, 2026
7w ago
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Press Release
| $36.35 $39.52 | ▲ +8.72% | ▲ +4.09% | $42.70 (+17.47%) |
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Apr 8, 2026
9w ago
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8-K
| $25.57 $44.24 | ▲ +73.02% | ▲ +65.45% | $42.70 (+66.99%) |
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Apr 8, 2026
9w ago
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Press Release
| $25.57 $44.24 | ▲ +73.02% | ▲ +65.45% | $42.70 (+66.99%) |
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Mar 19, 2026
12w ago
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Press Release
| $25.93 $32.19 | ▲ +24.14% | ▲ +14.82% | $42.70 (+64.67%) |
US Market Status
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