Overview
- Management said it is in advanced discussions with an investment‑grade hyperscaler for up to three sites totaling about 900 megawatts.
- Roth reports construction has begun at Delta Forge 1 in the southern U.S., planned for an initial 430 MW, and expects a formal hyperscaler lease within months.
- After the quarter, Northland raised its price target to $56, Craig‑Hallum to $40, and Roth reaffirmed Buy with a $58 target.
- Q2 results showed $126.6 million in revenue, up 250% year over year, alongside a $31.2 million GAAP net loss and $20.2 million in adjusted EBITDA.
- Seeking Alpha highlights a shift toward a hyperscale landlord model supported by roughly $16 billion in contracted lease revenue, while cautioning that valuation looks stretched near 32x forward EV/sales.