On May 21, Applied Digital rose 6.3% overnight, trading at $42.01/share, with trading volume of $31,500.

On the news front, Applied Digital announced a new lease agreement with the same US investment-grade hyperscale cloud services provider that previously signed on for its Delta Forge 1 project. The agreement covers the company's fourth AI factory campus, Polaris Forge 3, located in a northern state, designed to deliver 300MW of critical IT load supported by approximately 430MW of grid-connected utility power. Polaris Forge 3 is expected to begin initial operations in August 2027.

This deal brings Applied Digital's total contracted lease revenue across four AI Factory campuses to $31 billion, with potential value reaching $73 billion if all renewal options are exercised under their respective terms. The repeat partnership with the same hyperscaler underscores client confidence in the company's execution capabilities.

Applied Digital designs, builds, and operates next-generation digital infrastructure, specializing in data center solutions for high-performance computing and artificial intelligence industries.

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