Applied Digital to Build $3 Billion AI Data Campus in North Dakota, Boosting AI Infrastructure

Applied Digital Shares Jump as Company Announces $3 Billion Polaris Forge 2 AI Campus in North Dakota - Applied Digital (NASDAQ:APLD)

Applied Digital Inc. APLD shares are trading higher Monday after the company announced plans to break ground in September on a $3 billion AI data campus in Harwood, North Dakota. What To Know: The site, named Polaris Forge 2, will be a 280-megawatt facility designed to scale beyond its initial capacity, with operations beginning in 2026 and full capacity expected in early 2027. The new development builds on the company's existing Polaris Forge 1 campus in Ellendale and underscores North Dakota's role in the growing demand for AI infrastructure. The state has become a strategic location due to its available land, energy resources, and business environment. Applied Digital confirmed that it has secured more than 900 acres for the project and power agreements through Cass County Electric Cooperative. Once fully operational, the facility is expected to employ over 200 full-time workers along with long-term contractors. CEO Wes Cummins said the company is in advanced negotiations with a U.S.-based investment-grade hyperscaler for capacity at the new campus, a signal of strong customer interest. State and local officials, including Governor Kelly Armstrong and Harwood Mayor Blake Hankey, praised the investment as a boost to North Dakota's economy and workforce development. The project has also drawn support from Cass County Electric Cooperative, Minnkota Power Cooperative and the Greater Fargo Moorhead Economic Development Corporation, all emphasizing the economic and community benefits of the expansion. APLD Price Action: Applied Digital shares were up 15.86% at $16.33 at the time of writing, according to Benzinga Pro. Read Next: Stocks Muted Ahead Trump-Zelenskyy Meeting, First Solar Jumps: What's Moving Markets Monday? Image Via Shutterstock. APLDApplied Digital Corp$16.3215.9%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum97.26Growth39.70QualityN/AValue20.07Price TrendShortMediumLongOverview This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

Why Applied Digital Stock Zoomed on Monday | The Motley Fool

Polaris Forge 2 is a $3 billion data center campus in North Dakota, designed to run 280 megawatts of power "to meet surging demand for compute power" for AI tasks. Applied Digital plans to break ground on the new campus in September, open for business in 2026, and reach full capacity early in 2027. It may be later expanded in size and capacity, if needed. You might not expect an announcement (like "we're going to spend $3 billion") to drive a stock price up. But in this case, Applied gave plenty of supporting detail to explain why this news is good for its business. For one thing, the company says it already has "strong interest from multiple parties" to lease capacity at the data center, including at least one "U.S. based investment-grade hyperscaler." For another, Applied says it has already secured power through Cass County Electric Cooperative to run the data center. In short, Applied Digital has all the pieces in place to put this data center to work immediately and continue growing its business. Revenue more than doubled last year and is up 1500% over the last two years.

Applied Digital Corporation to Break Ground on $3 Billion Polaris Forge 2 Campus in September 2025, Expanding North Dakota's Role as A National AI Infrastructure Leader

Applied Digital Corporation announced it plans to break ground in September 2025 on Polaris Forge 2, a $3 billion, 280-megawatt (MW) AI Factory near Harwood, North Dakota. Designed with the ability to scale beyond its initial 280MW, the campus--with initial capacity in 2026 and reaching full capacity in early 2027--f further advances Applied Digital's rapid growth and reinforces North Dakota's position as one of the most strategically important destinations for AI infrastructure in the United States. The new project comes as demand for AI computing capacity continues to surge, with hyperscalers, enterprises, and research organizations seeking scalable, high-performance infrastructure. Polaris Forge 2 builds on the success of Applied Digital's Polaris Forge 1Ellendale campus, expanding the company's presence in a state that offers abundant energy, available land, and a pro-business climate. The proposed development initially includes two facilities with capacity for future expansion. Applied Digital has contracted more than 900 acres for the campus and secured power through Cass County Electric Cooperative. Polaris Forge 2 is expected to advance Applied Digital's mission to build sustainable, high-performance digital infrastructure thatpowers innovation and delivers lasting economic and community benefits.