Applied Digital Secures $5B Financing for AI Infrastructure Expansion with New North Dakota Campus

Applied Digital Corporation (NASDAQ: APLD) has launched an aggressive expansion strategy that positions the company as a major player in U.S. artificial intelligence infrastructure development. 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 according to AiNews.com reporting.

The new facility represents a significant investment in next-generation computing infrastructure specifically designed for AI workloads. Scheduled to begin operations in 2026, the data center will incorporate advanced waterless cooling systems and renewable energy integration while creating more than 200 permanent jobs in the region. This expansion comes as demand for AI-optimized computing infrastructure continues to surge across multiple industries.

Complementing the physical infrastructure buildout, Applied Digital has secured a $5 billion equity facility with Macquarie Asset Management to finance its high-performance computing expansion and strengthen liquidity across upcoming projects. The preferred-equity deal represents one of the largest financing arrangements in the data center industry and provides substantial capital for the company's ambitious growth plans.

The combined $8 billion in investments—$5 billion in financing and $3 billion for the new campus—positions Applied Digital as a leader in sustainable AI infrastructure development. The company's focus on GPU-optimized data centers with liquid-cooled technology addresses the intensive computational requirements of modern AI applications while maintaining environmental sustainability through waterless cooling systems.

This expansion strategy has broader implications for the U.S. technology landscape as the nation competes globally in artificial intelligence development. The substantial investment in North Dakota infrastructure also brings economic development to regions outside traditional technology hubs, creating high-tech employment opportunities in areas that have historically been underserved by the digital economy.

The timing of this expansion coincides with increasing demand for AI computing capacity across multiple sectors including healthcare, finance, manufacturing, and scientific research. Applied Digital's approach combines hyperscale expertise with proprietary cooling technology to deliver scalable compute infrastructure at industry-leading speed and efficiency. For more information about the company's developments, visit https://www.applieddigital.com.

The company's recognition as Best Data Center in the Americas 2025 by Datacloud underscores the industry significance of its infrastructure model. As AI workloads continue to grow in complexity and scale, the availability of specialized, sustainable computing infrastructure becomes increasingly critical for maintaining technological competitiveness across the American economy.