Applied Digital Announces $5 Billion AI Factory Lease with U.S. Based Investment Grade Hyperscaler at Polaris Forge 2 ND Campus
Applied Digital Corporation (APLD)
Company Research
Source: GlobeNewswire
DALLAS, Oct. 22, 2025 (GLOBE NEWSWIRE) -- Applied Digital (NASDAQ: APLD) announced today that it has entered into a lease agreement with a U.S. Based Investment Grade Hyperscaler at its state-of-the-art, purpose-built Polaris Forge 2 Campus currently under construction near Harwood, North Dakota. This lease represents approximately $5 billion in total contracted revenue over an estimated 15-year lease term and covers 200 megawatts (MW) of critical IT load purpose-built to support the Hyperscaler’s artificial intelligence (AI) and high-performance compute (HPC) infrastructure. The Hyperscaler also holds a first right of refusal for an additional 800 MW of critical IT, representing the full expansion potential of the 1-gigawatt (GW) Polaris Forge 2 Campus. With this agreement, Applied Digital’s total leased capacity with two of the world’s largest hyperscalers across its Polaris Forge 1 and Polaris Forge 2 campuses in North Dakota has now reached 600 MW, reinforcing the company’s pos
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News
- Applied Digital Leads $25 Million Funding Round for Corintis to Advance Innovation in Data Center TechnologyGlobeNewswire
- Applied Digital Completes Phase II Ready for Service at Polaris Forge 1, Fully Energizing First 100 MW BuildingGlobeNewswire
- Applied Digital Announces Pricing of $2.35 Billion of Senior Secured NotesGlobeNewswire
- Applied Digital Advances AI Factory Buildout with Second $787.5 Million Draw from Macquarie Asset ManagementGlobeNewswire
- Applied Digital Announces Proposed Offering of $2.35 Billion of Senior Secured NotesGlobeNewswire
APLD
Earnings
- 10/9/25 - Beat
APLD
Sec Filings
- 12/2/25 - Form 8-K
- 12/2/25 - Form 4
- 11/28/25 - Form 4
- APLD's page on the SEC website