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Investing.com -- Applied Digital (NASDAQ:APLD) stock soared 17% after announcing plans to break ground on a $3 billion AI computing facility in North Dakota next month, expanding its infrastructure to meet surging demand for AI computing power.
The company will begin construction on Polaris (NYSE:PII) Forge 2, a 280-megawatt AI Factory near Harwood, North Dakota in September 2025. The facility is designed with capacity to scale beyond its initial power allocation, with initial operations planned for 2026 and full capacity expected in early 2027.
The new campus builds on Applied Digital’s existing Polaris Forge 1 facility in Ellendale, North Dakota. The company has contracted more than 900 acres for the campus and secured power through Cass County Electric Cooperative. Once fully operational, the site is expected to create more than 200 full-time jobs.
CEO Wes Cummins (NYSE:CMI) noted the company is in "advanced negotiations with a U.S. based investment-grade hyperscaler" for the campus, suggesting potential customer commitments are already in development. The expansion comes as demand for AI computing infrastructure continues to accelerate from hyperscalers, enterprises, and research organizations.
Applied Digital designs and operates data centers specifically engineered for AI, cloud, and blockchain workloads. The company employs proprietary waterless cooling technology and focuses on creating economic opportunities in underserved communities.
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