Applied Digital up after $7.5 billion deal for IT site, matthew sigel notes

Applied Digital up after $7.5 billion deal for IT site, matthew sigel notes
Applied Digital rises on $7.5B contract news

matthew sigel reports that Applied Digital shares rose 8% after hours following a new lease agreement. The company entered a 15-year take-or-pay contract valued at $7.5 billion, which could reach $18 billion if all options are exercised, for 300MW of critical IT capacity at its Polaris Forge 3 site. The contract is with the same IG hyperscaler that previously signed at Delta Forge 1.

Sigel recently reported that LGN shares climbed 10% after the company posted strong EPS and a 104% revenue increase in the latest quarter, along with an improved full year EBITDA outlook here. In a separate note, he argued that Bitcoin could reach $160,000 if its valuation catches up with historical ratios to equities here. Both reports track recent developments in public markets and digital assets.

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