Movement Alert|Applied Digital Rises 10.1% in Pre-Market Trading, $5.2 Billion Hyperscaler Lease and $550 Million Credit Facility Boost Shares

Market Focus
Jun 09

On June 9, Applied Digital rose 10.1% in pre-market trading, trading at $45.22/share, with trading volume of $1.0248 million. The stock surged on dual catalysts: a landmark lease agreement and a new credit facility.

On the news front, Applied Digital signed a 15-year take-or-pay lease with a U.S. investment-grade hyperscaler for 210 megawatts of IT capacity at its upcoming Delta Forge 2 location. The contract is expected to generate approximately $5.2 billion in base revenue, with potential to reach $12.7 billion if all renewal options are exercised over 30 years. This agreement expands the company's AI Factory franchise model to a fifth campus, bringing the total contracted portfolio to approximately $36 billion. Initial operations are scheduled for Q1 of 2028. Additionally, the company secured a $550 million revolving credit facility to support strategic growth and enhance financial flexibility. Approximately 70% of Applied Digital's contracted revenue is now backed by U.S. investment-grade hyperscalers.

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