Applied Digital Raises $1.59 Billion in Junk Bonds at 7% Yield to Expand CoreWeave Data Center Capacity in North Dakota
Applied Digital raised $1.59 billion in junk bonds to fund additional data center capacity in North Dakota tied to CoreWeave Inc. The bonds priced at a 7% yield, versus about 10% on a similar CoreWeave-linked deal in November, and demand was about five times the offering size.
The financing comes two days after Applied Digital said it signed a 15-year, 210-megawatt AI data center lease at Delta Forge 2 with a U.S. hyperscaler, a contract expected to add about $5.2 billion of contracted revenue. The company said that agreement expanded its AI Factory franchise model to a fifth campus and brought contracted lease revenue to about $36 billion across 1.4 gigawatts of leased capacity.
From the sources (6 posts)
@stocksavvyshay$APLD signed a 15-year AI data center lease with a U.S. hyperscaler for 210MW at Delta Forge 2 adding ~$5.2B of contracted revenue. Applied Digital now has ~$36B contracted across five AI Factory campuses with 1.4GW of contracted IT load a
@polymarketmoney$APLD signed a 15-year, 210MW lease with a major U.S. hyperscaler expected to bring in ~$5.2B in revenue.
@aplddigital#NEWS: Another one. 💥 Applied Digital has signed a 210 MW lease at Delta Forge 2, expanding our AI Factory franchise model to a fifth campus. $APLD ⚡ 1.4 GW of total leased capacity ⚡ 5 campuses across multiple states ⚡ Multiple hyperscal
@businessWhen Applied Digital Corp. first tapped the junk-bond market in November to fund a data center project tied to CoreWeave Inc., it had to stomach a hefty yield to get the deal done.
@wallstengine$APLD raised $1.59B in junk bonds to fund more $CRWV data center capacity in North Dakota. The bonds priced at a 7% yield vs 10% months ago on a similar CoreWeave-linked deal. Demand was 5x the offering size, per Bloomberg, showing contin
@stocksavvyshay$APLD raised $1.6B in junk bonds to fund additional $CRWV data center capacity in North Dakota. The deal priced at a 7% yield (down from 10% on a similar deal months ago) with demand 5x the offering size.