- Construction begins on 280 MW “Polaris Forge 2” data center in North Dakota, anchored by hyperscale leases
- $5B equity facility, $160M strategic financing, and $3B campus launch position Applied Digital as a U.S. AI infrastructure leader
- Combined investments target sustainable, liquid-cooled, GPU-optimized data centers for next-generation AI workloads
Applied Digital (NASDAQ: APLD) has kicked off an aggressive expansion strategy that cements its role as one of the most ambitious builders of AI-ready infrastructure in the United States, according to head of news reporting at AiNews.com, Alicia Shapiro. The company has broken ground on Polaris Forge 2, a $3 billion, 280-megawatt data center in Harwood, North Dakota—its second large-scale “AI factory” in the state. Shapiro notes that the facility, slated to begin operations in 2026, will incorporate waterless cooling systems, renewable-energy integration, and create more than 200 permanent jobs.
In a separate AiNews feature, Shapiro detailed Applied Digital’s new $5 billion equity facility with Macquarie Asset Management, structured to finance the company’s high-performance computing (HPC) expansion and strengthen liquidity across upcoming buildouts. The preferred-equity deal—one of the largest of its kind in the sector—ties capital access directly to executed leases and carries flexible redemption options after five years. Shapiro noted that this structure provides a scalable model for funding next-generation AI infrastructure while preserving balance-sheet discipline.
Rounding out the financing surge, AiNews’ Alicia Shapiro also covered Applied Digital’s $160 million capital raise led by Nvidia and Related Companies, underscoring deep investor confidence in the firm’s AI-driven data-center model. The proceeds will accelerate development of GPU-optimized, liquid-cooled facilities engineered for sustainability and efficiency. With these combined initiatives, Shapiro writes, Applied Digital is positioning itself as a cornerstone of the emerging U.S. AI compute economy—where renewable energy, advanced cooling, and capital agility define the next wave of high-performance data infrastructure.
About Applied Digital
Applied Digital Corporation (Nasdaq: APLD) named Best Data Center in the Americas 2025 by Datacloud – designs, builds and operates high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads. Headquartered in Dallas, TX, and founded in 2021, the company combines hyperscale expertise, proprietary waterless cooling, and rapid deployment capabilities to deliver secure, scalable compute at industry-leading speed and efficiency, while creating economic opportunities in underserved communities through its award-winning Polaris Forge AI Factory model.
For more information about the company, see www.applieddigital.com.
