Applied Digital (APLD) will break ground on a new $3 billion 280 MW data center, Polaris Forge 2, this coming September in North Dakota, according to a company press release.
The site, which will be able to scale past the initial 280 MW, is expected to begin initial operations by 2026 and full capacity in early 2027.
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APLD’s price jumped on the news, up 6.5% to $16.78 in early morning trading hours.
Applied Digital has secured more than 900 acres for the campus and contracted power through Cass County Electric Cooperative, with additional support from Minnkota Power Cooperative. Polaris Forge 2 is expected to employ over 200 full-time staff and long-term contractors once fully operational, with room for expansion.
“We believe Polaris Forge 2 represents the next stage in Applied Digital’s rapid growth and our position as a leader in delivering high-performance AI infrastructure,” said Applied Digital CEO Wes Cummins. Cummins also stated that the company is in advanced negotiations with a U.S.-based investment-grade hyperscaler for the campus.
Update (12:00 PM ET, August 18, 2025): Edited for clarity and updated stock price with Trading View chart.
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Applied Digital stock jumps over 6% on $3 billion data center expansion announcement
Published 2 months ago
Aug 18, 2025 at 2:51 PM
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