Applied Digital (APLD) Ends Losing Streak on $3-Billion Data Center Expansion

We recently published 10 Stocks Shine Brighter Than Wall Street. Applied Digital Corp. (NASDAQ:APLD) is one of Monday’s top performers.

Applied Digital snapped a three-day losing streak on Monday, jumping 15.97 percent to close at $16.34 apiece as investors welcomed its $3 billion data center expansion plans.

In a statement, Applied Digital Corp. (NASDAQ:APLD) said it is scheduled to break ground next month for the new Polaris Forge 2 Campus, a data center capable of powering 280 MW of critical IT load capacity.

Applied Digital Corp. (NASDAQ:APLD) said the new facility will sit on 900 acres of land, which will include two facilities with capacity for future expansion.

The company said full capacity is expected to be achieved in 2027, with the initial load to come online next year.

“We believe Polaris Forge 2 represents the next stage in Applied Digital’s rapid growth and our position as a leader in delivering high-performance AI infrastructure,” said Applied Digital Corp. (NASDAQ:APLD) CEO Wes Cummins.

”The demand for AI capacity continues to accelerate, and North Dakota continues to be one of the most strategic locations in the country to meet that need. We have strong interest from multiple parties and are in advanced negotiations with a U.S.-based investment-grade hyperscaler for this campus, making it both timely and prudent to proceed with groundbreaking and site development,” he added.

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