Shares of Applied Digital Corp (NASDAQ: APLD) surged as the company announced a significant lease agreement with a new U.S.-based high investment-grade hyperscaler. The lease, valued at approximately $7.5 billion over 15 years, is for 300 megawatts of critical IT load at its 430 MW Delta Forge 1 AI Factory campus. This deal is set to enhance revenue streams and diversify the customer base, focusing on supporting artificial intelligence and high-performance computing infrastructure. With this agreement, the hyperscaler becomes the second U.S. tenant across Applied Digital's AI Factory portfolio, totaling contracted lease revenue of over $23 billion. This move further diversifies the customer base with a third hyperscale tenant, consolidating Applied Digital as a top performer in today's market. Detailed coverage is available on Benzinga.com.