{"slug": "applied-digital-secures-multi-billion-ai-data-center-leases", "title": "Applied Digital Secures Multi-Billion AI Data Center Leases", "summary": "Applied Digital signed two 15-year leases with a US hyperscaler for the Polaris Forge 3 and Delta Forge 2 data center campuses, worth a combined $12.7 billion in base contracted revenue. The company now has $36 billion in total contracted base-term revenue across five campuses, with 70% backed by investment-grade hyperscalers. The stock trades at a discount to peers Equinix and Digital Realty.", "body_md": "Applied Digital (NASDAQ: APLD) appears on Leopold Aschenbrenner's Situational Awareness list, ranking #3, according to Insider Monkey and a Yahoo Finance republish. Per Insider Monkey, Applied Digital signed a 15-year lease for **Polaris Forge 3** with a US hyperscaler worth **$7.5 billion** in base contracted revenue and announced **Delta Forge 2**, a 210 MW campus under a 15-year lease worth **$5.2 billion** in base revenue. Insider Monkey reports all five campuses now represent **$36 billion** in contracted base-term revenue, rising to **$86 billion** with renewal options, and that roughly **70%** of that revenue is backed by investment-grade hyperscalers. Insider Monkey also notes the stock trades at **7x** forward 2029 EV/sales versus **9.35x** and **9.53x** for Equinix and Digital Realty, respectively. Editorial analysis: Companies with long-term hyperscaler leases often gain predictable revenue profiles, which changes how practitioners model infra-capex exposure and counterparty risk.", "url": "https://wpnews.pro/news/applied-digital-secures-multi-billion-ai-data-center-leases", "canonical_source": "https://letsdatascience.com/news/applied-digital-secures-multi-billion-ai-data-center-leases-0cd0089b", "published_at": "2026-06-25 19:39:29+00:00", "updated_at": "2026-06-25 20:20:01.891193+00:00", "lang": "en", "topics": ["ai-infrastructure", "ai-startups", "ai-products"], "entities": ["Applied Digital", "Leopold Aschenbrenner", "Insider Monkey", "Yahoo Finance", "Equinix", "Digital Realty", "Polaris Forge 3", "Delta Forge 2"], "alternates": {"html": "https://wpnews.pro/news/applied-digital-secures-multi-billion-ai-data-center-leases", "markdown": "https://wpnews.pro/news/applied-digital-secures-multi-billion-ai-data-center-leases.md", "text": "https://wpnews.pro/news/applied-digital-secures-multi-billion-ai-data-center-leases.txt", "jsonld": "https://wpnews.pro/news/applied-digital-secures-multi-billion-ai-data-center-leases.jsonld"}}