Applied Digital Hits 1 GW in AI Contracts, Faces Next Test
Applied Digital shares hovered near $45.25 Wednesday after the company signed a 15-year, $7.5 billion lease for 300 MW at its Polaris Forge 3 AI data center. The deal pushed total contracted lease revenue to $31 billion and capacity to 1,200 MW. Intraday trading volume neared 10 million shares. Investors remain focused on execution risks, including power and construction timelines.