APLD Secures $5 Billion AI Factory Lease—Major Hyperscaler Commits to Polaris Forge 2 ND Campus
Landmark Lease Highlights Scale and Strategic Expansion
Applied Digital (NASDAQ:APLD) made headlines today by announcing a massive $5 billion lease agreement with a U.S.-based investment grade hyperscaler at its under-construction Polaris Forge 2 Campus in Harwood, North Dakota. This lease—spanning 200 megawatts (MW) of critical IT capacity over a 15-year term—positions APLD as a clear front-runner in AI and high-performance computing (HPC) infrastructure.
Even more impressive: The agreement grants the hyperscaler a first right of refusal on an additional 800 MW, covering the full expansion capacity of the 1-gigawatt (GW) campus. In total, APLD’s leased capacity across its North Dakota campuses with the world’s two largest hyperscalers now reaches 600 MW, signaling accelerating demand and robust customer confidence in APLD’s delivery capabilities.
Efficient, Sustainable, and Rapidly Scalable Data Center Design Sets New Standard
The Polaris Forge 2 campus will occupy more than 900 acres and aims for a best-in-class Power Usage Effectiveness (PUE) of 1.18, paired with near-zero water consumption—making it one of the most efficient and environmentally conscious data centers under development in the U.S. The initial 200 MW is split between two buildings, set to come online starting in 2026 and scaling up through 2027, while future expansion could see the full 1 GW built out if the optionality is exercised.
| Key Metric | Detail |
|---|---|
| Total Lease Value | $5 billion (15-year term) |
| Leased Capacity (New Deal) | 200 MW |
| Campus Expansion Potential | Up to 1 GW (800 MW option) |
| PUE Target | 1.18 |
| Water Usage | Near Zero |
| Campus Size | 900+ acres |
Momentum Builds: From New Partnerships to Industry Accolades
This announcement comes on the heels of record-breaking growth for Applied Digital, including an additional 150 MW lease at the company’s Polaris Forge 1 Campus and a separate $5 billion partnership with Macquarie Asset Management. Recognition has also followed: APLD was recently named “Best Data Center in the Americas 2025” by Datacloud and topped the Dallas Business Journal’s Fast 50, highlighting its rapid rise as an industry leader.
Takeaway: Strategic Positioning at the Forefront of AI Infrastructure
With major clients secured and state-of-the-art facilities on the horizon, Applied Digital is shaping the future of AI infrastructure from America’s heartland. The new Polaris Forge 2 agreement doesn’t just reflect confidence from industry giants—it sets a pace and standard for delivering scale, speed, and sustainability. As APLD continues its expansion, the scale of customer commitment and campus capabilities raises the stakes for what’s possible in next-generation digital infrastructure.
For those tracking trends in data centers, AI growth, and sustainable design, Applied Digital’s rapid execution and continued industry validation offer compelling reasons to keep this company firmly on the radar.
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