Applied Digital Inc. (NASDAQ:APLD) shares are trading higher Monday after the company announced plans to break ground in September on a $3 billion AI data campus in Harwood, North Dakota.
What To Know: The site, named Polaris Forge 2, will be a 280-megawatt facility designed to scale beyond its initial capacity, with operations beginning in 2026 and full capacity expected in early 2027.
The new development builds on the company's existing Polaris Forge 1 campus in Ellendale and underscores North Dakota's role in the growing demand for AI infrastructure. The state has become a strategic location due to its available land, energy resources, and business environment.
Applied Digital confirmed that it has secured more than 900 acres for the project and power agreements through Cass County Electric Cooperative. Once fully operational, the facility is expected to employ over 200 full-time workers along with long-term contractors.
CEO Wes Cummins said the company is in advanced negotiations with a U.S.-based investment-grade hyperscaler for capacity at the new campus, a signal of strong customer interest. State and local officials, including Governor Kelly Armstrong and Harwood Mayor Blake Hankey, praised the investment as a boost to North Dakota's economy and workforce development.
The project has also drawn support from Cass County Electric Cooperative, Minnkota Power Cooperative and the Greater Fargo Moorhead Economic Development Corporation, all emphasizing the economic and community benefits of the expansion.
APLD Price Action: Applied Digital shares were up 15.86% at $16.33 at the time of writing, according to Benzinga Pro.
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