Applied Digital secured a $7.5 lease deal with a hyperscaler for 300 MW of IT capacity at its fourth AI factory campus, Polaris Forge 3. The deal brings Applied Digital’s total contracted lease revenue to $31 billion across four campuses and its total contracted IT capacity to 1.2 GW.
The data center operator said the hyperscale customer behind the deal is the same one that previously inked a similarly sized deal at its Delta Forge 1 campus in Louisiana last month. Applied Digital did not disclose where Polaris Forge 3 is located, but its Polaris Forge 1 and 2 facilities are both located in North Dakota.
The new 15-year deal could be worth as much as $18.2 billion if all options are exercised.
“Polaris Forge 3 is a direct extension of what we’ve proven works: a disciplined, repeatable AI Factory model that delivers large-scale capacity to the world’s most demanding compute customers,” said Wes Cummins, Chairman and Chief Executive Officer of Applied Digital. "We’ve earned a seat at the table with blue-chip customers, and we intend to keep that position through flawless execution and long-term operational reliability.”
Read the full release here.