On June 8, 2026, Applied Digital Corp. said it had signed a 15-year lease for 210 MW of critical IT load at Delta Forge 2, its fifth AI Factory campus, with a U.S.-based, high investment-grade hyperscaler it did not name. It said only that the campus was in “a new southern state.” The company put base-term contracted revenue at about $5.2 billion, or about $12.7 billion if all renewal options are exercised over a 30-year total term, and said initial operations were expected to begin in the first quarter of 2028. Its quarterly report for the period ended Aug. 31 says the lease was entered into on June 5 and carries three five-year renewal options.

On Sept. 24, Applied Digital named Brookwood, in Tuscaloosa County, Ala., as the site. The company said it and its tenant will invest more than $3.2 billion in a campus of about 1.26 million square feet on roughly 160 acres of a nearly 1,300-acre site, with construction employment peaking above 1,000 workers, more than 100 full-time employees and operations expected to begin in 2028. It said it will pay $270 million in community benefit payments over 20 years to the Tuscaloosa County Economic Development Authority, to be shared by Brookwood, Tuscaloosa, Northport, Tuscaloosa County, the Tuscaloosa County Road Improvement Commission and DCH Health System, whose local taxes are being abated, in addition to about $131.5 million in education taxes over the same period. The release did not state the amount of the abatements. It said the campus will use closed-loop cooling and that Applied Digital will pay the full cost of serving its energy needs so the cost is not shifted to other Alabama Power customers. No county authority, county commission or city record of the incentive agreement had been posted online as of Nov. 6.

Applied Digital’s Oct. 7 results release lists Delta Forge 2 in Alabama among campuses in various stages of construction. Its quarterly report describes the campus as a single building under construction, with expected delivery in the first half of calendar 2028. No project financing for the campus has been disclosed. Under Act 2026-610, which took effect Oct. 1, the Alabama Public Service Commission reviews utility contracts with data centers of 150 MW or more. In an October order in Docket 33709, the PSC required Alabama Power to file a public petition for each contract naming the customer, its parent entities, the location and the maximum contracted capacity, and said a petition is deemed approved if the commission does not vote within 90 days. The PSC’s recent filings list, checked Nov. 6, showed no petition naming Applied Digital or Brookwood. The Alabama Department of Environmental Management’s Tuscaloosa County page lists an air permit application received for “Applied Digital Corporation Brookwood Forge1” on Brookwood Parkway; it lists no issued permit for the site.