Polaris Forge 2: A Key Growth Driver for Applied Digital's APLD Stock

Applied Digital's (APLD) Polaris Forge 2 project, a $3 billion, 280-megawatt AI Factory, is set to break ground in September 2025 and reach full capacity by early 2027. The project aims to expand the company's role in powering next-generation AI workloads and build on the success of Polaris Forge 1, where Applied Digital secured long-term leases with CoreWeave covering 400 MW and approximately $11 billion in contracted revenues. The new facility is designed for scalability and has already attracted interest from additional investment-grade hyperscalers.

Applied Digital Corporation (Nasdaq: APLD) has announced plans to break ground on Polaris Forge 2, a $3 billion, 280-megawatt (MW) AI Factory in Harwood, North Dakota. The project is scheduled to start operations in 2026 and reach full capacity by early 2027, further expanding the company's presence in the state and reinforcing North Dakota's position as a strategic destination for AI infrastructure [1].

The new facility is designed to be scalable, with the ability to expand beyond its initial 280 MW capacity. It builds on the success of Polaris Forge 1 in Ellendale, where Applied Digital secured long-term leases with CoreWeave covering 400 MW and approximately $11 billion in contracted revenues [1]. The project has already attracted interest from additional investment-grade hyperscalers, indicating strong demand for AI computing capacity [1].

North Dakota's abundant energy resources, available land, and pro-business climate make it an attractive location for AI infrastructure projects. Applied Digital has contracted more than 900 acres for the campus and secured power through Cass County Electric Cooperative [1]. The project is expected to employ more than 200 full-time employees and long-term contractors once fully operational [1].

Governor Kelly Armstrong expressed excitement about the project, noting that Applied Digital's commitment to expanding in North Dakota will strengthen the state's economy and contribute to the development of rural communities [1]. Cass County Electric Cooperative and Minnkota Power Cooperative have also expressed their support for the project, highlighting the potential benefits for their communities and cooperative members [1].

The Greater Fargo Moorhead Economic Development Corporation (GFMEDC) is also enthusiastic about the project, stating that it will bring substantial economic benefits to the greater Fargo region [1]. The EDC has conducted workforce assessments that show the region's ability to provide the talent needed to support the facility [1].

Applied Digital's investment in Ellendale is seen as a model for rural innovation, bringing high-tech infrastructure, workforce housing, and long-term economic opportunity to North Dakota [1]. The company's expansion into Harwood builds on this success and positions the state for future growth in AI infrastructure.

References:
[1] https://ir.applieddigital.com/news-events/press-releases/detail/127/applied-digital-to-break-ground-on-3-billion-polaris-forge