Applied Digital Secures $5 Billion Financing to Expand AI Infrastructure with New North Dakota Data Center
Applied Digital Corporation is accelerating U.S. AI infrastructure development with $5 billion in financing and a new 280-megawatt data center in North Dakota, positioning the company as a leader in sustainable, GPU-optimized computing for next-generation AI workloads.
Applied Digital Corporation has launched an aggressive expansion strategy that establishes the company as one of the most ambitious builders of AI-ready infrastructure in the United States. The company has broken ground on Polaris Forge 2, a $3 billion, 280-megawatt data center in Harwood, North Dakota, marking its second large-scale AI facility in the state. The new campus, scheduled to begin operations in 2026, will incorporate waterless cooling systems and renewable energy integration while creating more than 200 permanent jobs.
The expansion is supported by significant financial backing, including a new $5 billion equity facility with Macquarie Asset Management structured to finance the company's high-performance computing expansion and strengthen liquidity across upcoming buildouts. This preferred-equity deal represents one of the largest financing arrangements in the data center industry and provides Applied Digital with substantial capital to accelerate its national AI infrastructure buildout. The company also secured $160 million in strategic financing to complement the larger equity facility.
Applied Digital's combined investments target the development of sustainable, liquid-cooled, GPU-optimized data centers specifically designed for next-generation AI workloads. The company's approach combines hyperscale expertise with proprietary waterless cooling technology and rapid deployment capabilities to deliver secure, scalable compute at industry-leading speed and efficiency. The Polaris Forge AI Factory model has been recognized for creating economic opportunities in underserved communities while meeting the growing demand for AI computing infrastructure.
The timing of this expansion comes as demand for AI computing power continues to surge across multiple industries, from cloud services to advanced research applications. Applied Digital's focus on sustainable engineering and waterless cooling addresses growing concerns about the environmental impact of large-scale data centers, particularly in regions facing water scarcity challenges. The company's emphasis on renewable energy integration further positions its facilities to meet evolving regulatory requirements and corporate sustainability goals.
For more information about the company's data center operations and sustainability initiatives, visit https://www.applieddigital.com. The North Dakota expansion represents a significant step in building out the national AI infrastructure needed to support the next wave of artificial intelligence applications and services, with Applied Digital positioning itself as a key player in this critical sector of the technology economy.