secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2026-04-23T23:59:59+00:00
Accession:  0001144879-26-000036
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000114487926000036/0001144879-26-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000114487926000036/apld-20260423.htm
  HTML page:      https://secwatch.observer/filing/0001144879-26-000036

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer