Applied Digital Corp (APLD) stock soared 5.13% in pre-market trading on Tuesday, extending its upward trajectory following a significant deal announcement with CoreWeave. This surge comes on the heels of a remarkable 48.5% jump in the previous trading session, highlighting strong investor enthusiasm for the company's recent strategic move in the AI infrastructure sector.

The catalyst for this continued rally is Applied Digital's revelation of two 15-year lease agreements with CoreWeave, an AI infrastructure company. These leases are expected to generate approximately $7 billion in revenue over their duration. Under the terms of the agreement, Applied Digital will provide 250 megawatts to host CoreWeave's artificial intelligence and high-performance computing infrastructure at its data center campus in Ellendale, North Dakota.

This deal not only secures a substantial long-term revenue stream for Applied Digital but also solidifies its position as a key player in the rapidly growing AI infrastructure market. The partnership with CoreWeave, a company known for its cutting-edge AI and high-performance computing solutions, further enhances Applied Digital's credibility in the tech sector.

As investors continue to digest the implications of this strategic move, the market's optimism about Applied Digital's future prospects remains high. The sustained stock price increase reflects confidence in the company's ability to capitalize on the growing demand for AI infrastructure and its potential for significant revenue growth in the coming years.