Host Digital Inc. (NYSE: HOST) shares leaped Tuesday. The company, a developer, owner, and operator of digital infrastructure for artificial intelligence and high-performance computing, today announced that its Board of Directors has unanimously authorized a share repurchase program under which the Company may repurchase up to $15 million of its outstanding common stock for up to one year.
The authorization reflects the Board’s confidence in Host Digital’s long-term strategy and gives the Company the flexibility to repurchase shares when it believes the market price does not reflect the value of its business, while continuing to prioritize the financing and delivery of its contracted data center projects.
Host Digital’s first project, Site I in northeast Oklahoma, is an energized facility with 55 megawatts of gross power and 43 MW of critical IT load. The site is leased under a 15-year take-or-pay agreement representing approximately $1.25 billion in base-term contracted revenue, with rent that increases 3% annually.
The lease is expected to be supported by a backstop from a U.S.-based, investment-grade global technology company, and the Company is targeting delivery to its tenant in the first quarter of 2027.
HOST shares grabbed 14 cents, or 7.6%, to $1.98.
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