Applied Digital Corporation Launches $8.3 Billion AI Infrastructure Expansion with New North Dakota Campus and Major Financing

Applied Digital Corporation has initiated a comprehensive expansion strategy that establishes the company as a significant builder of AI-ready infrastructure in the United States. The Dallas-based technology firm has commenced construction on Polaris Forge 2, a $3 billion, 280-megawatt data center facility located in Harwood, North Dakota. This represents the company's second large-scale AI infrastructure project in the state and demonstrates the growing demand for specialized computing facilities optimized for artificial intelligence applications.

The new data center, scheduled to begin operations in 2026, incorporates advanced sustainable technologies including waterless cooling systems and renewable energy integration. These environmental considerations address growing concerns about the energy consumption and environmental impact of large-scale computing facilities. The project is expected to create more than 200 permanent jobs in the region, contributing to economic development in North Dakota while supporting the national AI infrastructure ecosystem.

Complementing the physical infrastructure expansion, Applied Digital has secured substantial financial backing to support its growth strategy. The company announced a $5 billion equity facility with Macquarie Asset Management, structured specifically to finance high-performance computing expansion and strengthen liquidity across upcoming buildouts. This preferred-equity arrangement represents one of the largest financing packages in the data center industry and provides Applied Digital with significant capital to accelerate its infrastructure development timeline.

In addition to the major equity facility, the company has secured $160 million in strategic financing, bringing the total financial commitment to $5.2 billion when combined with the $3 billion campus development. This comprehensive funding approach positions Applied Digital to compete effectively in the rapidly expanding AI infrastructure market, where demand for specialized computing resources continues to outpace supply.

The combined investments target the development of sustainable, liquid-cooled, GPU-optimized data centers specifically designed for next-generation AI workloads. These facilities represent a shift from traditional data center design toward specialized infrastructure capable of handling the intensive computational requirements of artificial intelligence training and inference. The company's focus on waterless cooling technology addresses environmental concerns in regions where water scarcity could limit data center operations.

Applied Digital's expansion comes at a critical time for the AI industry, as companies across multiple sectors increasingly require access to high-performance computing resources. The development of specialized AI infrastructure supports innovation across healthcare, finance, manufacturing, and scientific research by providing the computational foundation necessary for advanced AI applications. The company's approach combines hyperscale expertise with proprietary cooling technologies and rapid deployment capabilities to deliver secure, scalable compute infrastructure at industry-leading speed and efficiency.

For more information about the company's operations and technology, visit https://www.applieddigital.com. The North Dakota campus development and substantial financial backing position Applied Digital to play a significant role in building the computational infrastructure required for the next generation of artificial intelligence applications, supporting both economic development and technological advancement in the United States.