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Applied Digital Polaris Forge 2 AI Factory Campus

PRJ-0679 · Site · Ellendale, North Dakota, United States

Record last updated Oct 28, 2026

Scope and capacity

Applied Digital’s October 7, 2026 release identifies Polaris Forge 2 at Harwood and expects initial operations by the end of 2026; its quarterly filing forecasts full ready-for-service in early 2027. These remain forecasts and do not resolve the differing capacity bases in its filings or establish an operating MW figure. 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 Harwood, 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.

Headline: 200 MW Planned critical IT

Numbers refer to their stated physical boundaries and are not added together. Source dates, claim dates and record updates have different meanings. Missing dates and locators are not inferred.

Claims and exhibit sources

Jump to a claim (12)

Location context · Polaris Forge 2 campus | Ellendale area | North Dakota

Actual · Applied Digital Polaris Forge 2 AI Factory Campus (Project)

Claim 57146 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal third quarter 2026 results

    Applied Digital · Document date: Apr 8, 2026 · Primary

    Source reference: SRC-3111 · Fact sheet · Recorded authority: Party primary

    Source URL

    https://www.globenewswire.com/news-release/2026/04/08/3270506/0/en/Applied-Digital-Reports-Fiscal-Third-Quarter-2026-Results.html

Lifecycle status · Construction

Actual · Applied Digital Polaris Forge 2 AI Factory Campus (Project)

Claim 57147 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal third quarter 2026 results

    Applied Digital · Document date: Apr 8, 2026 · Primary

    Source reference: SRC-3111 · Fact sheet · Recorded authority: Party primary

    Source URL

    https://www.globenewswire.com/news-release/2026/04/08/3270506/0/en/Applied-Digital-Reports-Fiscal-Third-Quarter-2026-Results.html

Reported capacity · 200 MW

Design · Applied Digital Polaris Forge 2 AI Factory Campus (Project)

Claim 57148 · Recorded claim type: Design · Review: Approved · Claim date: Not stated

Headline treatment: Separate claim, not added to the headline

  1. Applied Digital fiscal third quarter 2026 results

    Applied Digital · Document date: Apr 8, 2026 · Primary

    Source reference: SRC-3111 · Fact sheet · Recorded authority: Party primary

    Source URL

    https://www.globenewswire.com/news-release/2026/04/08/3270506/0/en/Applied-Digital-Reports-Fiscal-Third-Quarter-2026-Results.html

Capacity basis · Applied Digital reports a 200 MW hyperscaler campus under construction.

Actual · Applied Digital Polaris Forge 2 AI Factory Campus (Project)

Claim 57149 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal third quarter 2026 results

    Applied Digital · Document date: Apr 8, 2026 · Primary

    Source reference: SRC-3111 · Fact sheet · Recorded authority: Party primary

    Source URL

    https://www.globenewswire.com/news-release/2026/04/08/3270506/0/en/Applied-Digital-Reports-Fiscal-Third-Quarter-2026-Results.html

Location context · Polaris Forge 2 campus | Ellendale area | North Dakota

Actual · Applied Digital Polaris Forge 2 AI Factory Campus (Project)

Claim 111199 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal third quarter 2026 results

    Applied Digital · Document date: Apr 8, 2026 · Primary

    Source reference: SRC-3107 · Fact sheet · Recorded authority: Party primary

    Source URL

    https://www.globenewswire.com/news-release/2026/04/08/3270506/0/en/Applied-Digital-Reports-Fiscal-Third-Quarter-2026-Results.html

Lifecycle status · Construction

Actual · Applied Digital Polaris Forge 2 AI Factory Campus (Project)

Claim 111200 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal third quarter 2026 results

    Applied Digital · Document date: Apr 8, 2026 · Primary

    Source reference: SRC-3107 · Fact sheet · Recorded authority: Party primary

    Source URL

    https://www.globenewswire.com/news-release/2026/04/08/3270506/0/en/Applied-Digital-Reports-Fiscal-Third-Quarter-2026-Results.html

Reported capacity · 200 MW

Design · Applied Digital Polaris Forge 2 AI Factory Campus (Project)

Claim 111201 · Recorded claim type: Design · Review: Approved · Claim date: Not stated

Headline treatment: Selected headline

  1. Applied Digital fiscal third quarter 2026 results

    Applied Digital · Document date: Apr 8, 2026 · Primary

    Source reference: SRC-3107 · Fact sheet · Recorded authority: Party primary

    Source URL

    https://www.globenewswire.com/news-release/2026/04/08/3270506/0/en/Applied-Digital-Reports-Fiscal-Third-Quarter-2026-Results.html

Capacity basis · Applied Digital reports a 200 MW hyperscaler campus under construction.

Actual · Applied Digital Polaris Forge 2 AI Factory Campus (Project)

Claim 111202 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal third quarter 2026 results

    Applied Digital · Document date: Apr 8, 2026 · Primary

    Source reference: SRC-3107 · Fact sheet · Recorded authority: Party primary

    Source URL

    https://www.globenewswire.com/news-release/2026/04/08/3270506/0/en/Applied-Digital-Reports-Fiscal-Third-Quarter-2026-Results.html

Development scale · 200 MW planned campus

Actual · Applied Digital Polaris Forge 2 AI Factory Campus (Project)

Claim 111219 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal 2026 Form 10-K

    Applied Digital · Document date: Jul 30, 2026 · Corroborating

    Source reference: SRC-6203 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/1144879/000114487926000048/apld-20260531.htm

  2. Applied Digital fiscal third quarter 2026 results

    Applied Digital · Document date: Apr 8, 2026 · Primary

    Source reference: SRC-3107 · Fact sheet · Recorded authority: Party primary

    Source URL

    https://www.globenewswire.com/news-release/2026/04/08/3270506/0/en/Applied-Digital-Reports-Fiscal-Third-Quarter-2026-Results.html

Development milestone · Two buildings under construction.

Actual · Applied Digital Polaris Forge 2 AI Factory Campus (Project)

Claim 111220 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal 2026 Form 10-K

    Applied Digital · Document date: Jul 30, 2026 · Corroborating

    Source reference: SRC-6203 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/1144879/000114487926000048/apld-20260531.htm

  2. Applied Digital fiscal third quarter 2026 results

    Applied Digital · Document date: Apr 8, 2026 · Primary

    Source reference: SRC-3107 · Fact sheet · Recorded authority: Party primary

    Source URL

    https://www.globenewswire.com/news-release/2026/04/08/3270506/0/en/Applied-Digital-Reports-Fiscal-Third-Quarter-2026-Results.html

Power arrangement · The 200 MW value is under construction design capacity, not operating load.

Actual · Applied Digital Polaris Forge 2 AI Factory Campus (Project)

Claim 111221 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal 2026 Form 10-K

    Applied Digital · Document date: Jul 30, 2026 · Corroborating

    Source reference: SRC-6203 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/1144879/000114487926000048/apld-20260531.htm

  2. Applied Digital fiscal third quarter 2026 results

    Applied Digital · Document date: Apr 8, 2026 · Primary

    Source reference: SRC-3107 · Fact sheet · Recorded authority: Party primary

    Source URL

    https://www.globenewswire.com/news-release/2026/04/08/3270506/0/en/Applied-Digital-Reports-Fiscal-Third-Quarter-2026-Results.html

Site configuration · Polaris Forge 2 campus | Ellendale area | North Dakota

Actual · Applied Digital Polaris Forge 2 AI Factory Campus (Project)

Claim 111222 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal 2026 Form 10-K

    Applied Digital · Document date: Jul 30, 2026 · Corroborating

    Source reference: SRC-6203 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/1144879/000114487926000048/apld-20260531.htm

  2. Applied Digital fiscal third quarter 2026 results

    Applied Digital · Document date: Apr 8, 2026 · Primary

    Source reference: SRC-3107 · Fact sheet · Recorded authority: Party primary

    Source URL

    https://www.globenewswire.com/news-release/2026/04/08/3270506/0/en/Applied-Digital-Reports-Fiscal-Third-Quarter-2026-Results.html

Counterparties and capital

Applied Digital · Developer · CMP-1390

Debt financing

$2,150,000,000 · Mar 2, 2026

Development and construction of 200 MW of contracted critical IT load.

Applied Digital (Sponsor)

Sources (2)

Financing record 212; claim-specific source links appear in the exhibit sources where published.

This schedule captures public Cartis research. It is not a title, lien or legal-opinion report. Document page/section locators and claim review timestamps are included only when published; this version has no separate locator or claim-review-time feed.