Applied Digital Delivers Second Building at Polaris Forge 1

Applied Digital announced the on-time completion of Phase 1 of Building 2 at Polaris Forge 1, delivering 75 MW of operational AI capacity and bringing total live capacity at the campus to 175 MW. The company demonstrated its repeatable AI Factory franchise model and execution capabilities, with the campus contracted to deliver 400 MW at full buildout. Applied Digital also announced a $1.59 billion senior secured notes offering to fund the fourth building at the facility.