Shares of Applied Digital Corp (APLD) surged 19.03% in pre-market trading on Monday, following the company's announcement of significant long-term lease agreements and substantial revenue expectations. The dramatic rise reflects investors' positive reaction to the company's latest business developments.
Applied Digital Corp revealed that it has entered into 15-year lease agreements with Coreweave, a move that is expected to generate approximately $7 billion in revenue over the term of the leases. This strategic partnership marks a major milestone for the company, potentially securing a steady long-term income stream.
The market's enthusiastic response to this news underscores the perceived value of these agreements for Applied Digital Corp's future growth and financial stability. As investors digest the implications of this development, it may set a new trajectory for the company's stock performance and business outlook in the coming years.
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