Applied Digital Polaris Forge 2 AI Factory Campus

Applied Digital is constructing Polaris Forge 2 in North Dakota as a two-building hyperscaler AI campus. Company reporting identifies 200 MW for the campus. Applied Digital is associated with the development in Ellendale, Ellendale area, ND, US. The disclosed development scope includes 200 MW planned campus; two buildings under construction. Power and physical infrastructure include purpose-built liquid-cooled AI Factory campus. Applied Digital reports a 200 MW hyperscaler campus under construction. A $2.15 billion senior secured note financing supports development and construction of the 200 MW contracted campus.