By Simply Wall St
Publication Date: 2026-03-07 07:08:00
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Applied Digital (NasdaqGS:APLD) has completed a secured bond offering worth approximately $2.15 billion to finance its Polaris Forge 2 AI data center campus in North Dakota.
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The Polaris Forge 2 facility is planned as a 200 MW AI data center and is pre-leased to Oracle under a long-term agreement.
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The company also inked a separate $2.4 billion, 1.2 GW power deal to support its broader AI and high-performance computing expansion.
For you as an investor, this positions Applied Digital as a focused infrastructure provider for large cloud and enterprise customers that require AI and powerful computing capacity. The Oracle pre-lease gives Polaris Forge 2 an anchor tenant from the start, while the long-term power contract is intended to secure important input for data center operations.
These moves will further anchor NasdaqGS:APLD in the group of companies that…