Applied Digital Secures $5 Billion Lease for AI Infrastructure
Exciting Development at Applied Digital's Polaris Forge 2 Campus
Applied Digital (NASDAQ: APLD), a pioneering force in digital infrastructure, has recently announced a monumental lease agreement with a U.S. based Investment Grade Hyperscaler. This collaboration is set to unfold at the high-tech Polaris Forge 2 Campus, currently being established near Harwood, North Dakota. The total revenue from this lease is projected to reach an impressive $5 billion over an anticipated 15-year period, focusing on 200 megawatts (MW) dedicated to supporting the Hyperscaler's extensive artificial intelligence (AI) and high-performance compute (HPC) infrastructure.
Boosting Infrastructure Capacity
The agreement marks a significant milestone as it expands Applied Digital's capacity, bringing the total leased power to 600 MW across both the Polaris Forge 1 and Polaris Forge 2 campuses. This achievement not only underscores the company’s rapid expansion but also reaffirms its standing as a leading builder of AI infrastructure in the United States.
"What truly distinguishes us isn't merely the scale of our operations - it's our exceptional speed of delivery," remarked Wes Cummins, Chairman and CEO of Applied Digital. He emphasized the importance of execution in this industry and how their team continues to surpass expectations in constructing state-of-the-art data centers swiftly and efficiently.
Innovative Design for Future Growth
The Polaris Forge 2 Campus spans an expansive 900 acres and is meticulously designed to achieve outstanding operational efficiency, boasting an estimated Power Usage Effectiveness (PUE) of 1.18 along with minimal water usage. The initial power draw of 200 MW will be executed in phases through two buildings set to come online starting in 2026 and fully operational by 2027. This campus is constructed with future expansions in mind, allowing for agility in scaling alongside technological advancements.
Applied Digital employs a proprietary design that focuses on high power density, liquid cooling, and sustainable performance. This strategy reflects the company’s core philosophy of being "Different by Design," poised to make a significant impact on community, climate, and operational costs.
Achievements and Recognition
This announcement comes on the heels of a streak of remarkable growth and accolades for Applied Digital. Among its notable collaborations is a recent 150 MW lease agreement with CoreWeave at the Polaris Forge 1 Campus. Additionally, the company secured a tremendous $5 billion partnership with Macquarie Asset Management aimed at advancing AI infrastructure.
Moreover, the recognition from the Dallas Business Journal’s Fast 50 highlights Applied Digital's swift progress and leadership within the digital infrastructure landscape. The company’s achievements not only signify outstanding corporate performance but also illustrate its commitment to reshaping the AI and data center industries.
Applied Digital: A Vision for the Future of AI
According to Cummins, the company's AI Factories are revolutionizing the construction and installation of hyperscale infrastructure. He expresses confidence that the future of AI computing can thrive from the heartland, emphasizing sustainable building practices, quick deployment, and a robust design for the evolving Intelligence Era.
With a comprehensive approach to facility management and a strong commitment to community involvement, Applied Digital is not just focused on building data centers; it's about crafting opportunities and driving positive change within the surrounding communities.
About Applied Digital
Applied Digital (NASDAQ: APLD) has been recognized as the Best Data Center in the Americas 2025 by Datacloud. The company specializes in designing, constructing, and managing high-performance data centers and colocation services tailored for a diverse range of workloads, including AI, cloud computing, networking, and blockchain. Established in 2021 and headquartered in Dallas, Texas, Applied Digital combines extensive experience in hyperscale operations with innovative cooling technologies and rapid deployment capabilities to deliver scalable computing solutions efficiently while fostering economic growth in underrepresented communities through its acclaimed Polaris Forge AI Factory model.
Frequently Asked Questions
What is the significance of the $5 billion lease?
This lease symbolizes a substantial investment in AI infrastructure, showcasing Applied Digital's capacity and growth in the industry.
How much total power capacity does Applied Digital now have?
With the recent lease, Applied Digital's total capacity has reached 600 MW across its Polaris Forge campuses.
What is the expected operational efficiency of the Polaris Forge 2 Campus?
The estimated Power Usage Effectiveness (PUE) of the campus is projected to be 1.18, indicating high operational efficiency.
Who is the investment partner for this lease agreement?
The lease is made with a U.S. based Investment Grade Hyperscaler, contributing to the company's significant growth trajectory.
When will the Polaris Forge 2 Campus begin operations?
The initial power draw of 200 MW is expected to come online in phases starting in 2026 and reaching full operational capacity in 2027.
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