Locking away for 15 years, with $5.2 billion—this lease is even more solid than a marriage. Applied Digital has, for this round, effectively latched onto the cloud giant’s coattails.

CryptoWorld News, Applied Digital has signed a 15-year lease with a major U.S. cloud computing company, with an initial value of approximately $5.2 billion and an addition of 210 MW of AI computing power. After the announcement, the stock price rose by 8.7%. This lease is related to the Delta Forge 2 plant and is the third long-term lease for the same investment-grade cloud computing provider, using a "pay or promise" structure. If all renewal options are exercised, the total revenue over 30 years will be about $12.7 billion. Currently, approximately 70% of the contract revenue comes from U.S. investment-grade cloud computing companies.