AdvertisementAdvertisementBusinessAI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration09 Jun 2026 04:56AM Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInAdd CNA as a trusted source to help Google better understand and surface our content in search results.Read a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST June 8 : Applied Digital has signed a 15-year lease with a U.S.-based hyperscaler at its Delta Forge 2 site which is expected to generate about $5.2 billion in revenue over the period, sending the company's shares up 8.7 per cent in extended trading.Major technology companies are raising their spending on data centers to support powerful artificial intelligence models, boosting demand for electricity, computing capacity and specialized facilities.About 70 per cent of Applied Digital's contracted revenue is now backed by U.S.-based investment-grade hyperscalers, the company said on Monday.The new agreement covers 210 megawatts of computing capacity at Delta Forge 2, Applied Digital's new AI Factory campus, under a take-or-pay lease structure.Show MoreShow LessThe company did not give more details on its new customer, but said the deal marked its third long-term lease with the same investment-grade hyperscaler.If all renewal options are exercised, the contract could generate about $12.7 billion in revenue over a 30-year period.Applied Digital's contracted portfolio now spans five campuses, representing 1.4 gigawatts of critical IT load and about 2.15 gigawatts of grid-connected utility power.The company said its contracted base-term lease revenue has increased to about $36 billion and would rise to roughly $86 billion if all renewal options are exercised.Delta Forge 2 will use Applied Digital's waterless cooling technology and high-power density infrastructure designed for AI workloads. Initial operations at the campus are expected to begin in the first quarter of 2028.Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST