** Applied Digital's APLD.O shares rise 9.3% to $44.75 after the bell

** APLD enters a new long-term lease agreement at Delta Forge 2 with an unnamed U.S. based high investment-grade hyperscaler, marking its fifth AI factory campus

** Agreement represents about $5.2 billion in base-term contracted revenue, or nearly $12.7 billion, if all renewal options are exercised over a 30-year total term

** Initial operations are anticipated to commence in Q1 2028

** Agreement brings APLD's total contracted lease revenue to $36 billion across five campuses; $86 billion if all renewal options are exercised

** APLD signed a long-term lease worth $7.5 billion with an unnamed U.S.-based hyperscaler at its new Delta Forge 1 site in April

** Stock has risen 70% YTD