---
schema_version: "secwatch.filing_event.v1"
accession: "0001144879-26-000036"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2026-04-23T23:59:59+00:00"
generated_at: "2026-05-15T04:26:12.844534+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Applied Digital signs $7.5B hyperscaler lease at Delta Forge 1, total contracted revenue >$23B

## Summary
- New 15-year lease with US investment-grade hyperscaler for 300 MW IT load at Delta Forge 1 campus.
- Total contracted lease revenue expands to over $23 billion; >50% backed by investment-grade customers.
- Delta Forge 1 is a 430 MW AI factory campus; initial operations expected mid-2027.
- Company expects up to $300M bridge facility for Polaris Forge 1 Building 3 and up to $300M revolver for development.
- Third hyperscale tenant diversifies customer base; second US investment-grade hyperscaler.

## SEC filing metadata
- accession: 0001144879-26-000036
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2026-04-23T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000114487926000036/0001144879-26-000036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000114487926000036/apld-20260423.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001144879-26-000036
- JSON: https://secwatch.observer/filing/0001144879-26-000036.json
- Plain text: https://secwatch.observer/filing/0001144879-26-000036.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.