On June 9, Applied Digital rose 12.3% in regular trading, trading at $45.43/share, with trading volume of $212 million. Multiple positive catalysts converged to drive the stock sharply higher.

On the news front, the company announced it has signed a 15-year take-or-pay lease with a U.S. investment-grade hyperscaler for 210 megawatts of IT capacity at its Delta Forge 2 project, expected to generate approximately $5.2 billion in base revenue over the contract term. This agreement expands its AI factory franchise model to a fifth campus, bringing the total contracted portfolio to approximately $36 billion. Additionally, the company secured a $550 million revolving credit facility to support strategic growth initiatives and enhance financial flexibility. Applied Digital also announced plans to issue $1.59 billion in senior secured notes to fund expansion of its Polaris Forge 1 facility in North Dakota. Approximately 70% of the company's signed contract revenue is now backed by U.S. investment-grade hyperscalers, reinforcing long-term revenue visibility.

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