Openbank Partners with Upvest for Digital Investment Infrastructure in Germany

Openbank, a digital lender owned by Santander Group, has migrated its investment accounts to Berlin-based fintech Upvest in Germany. The move allows Openbank to expand its product range and offer fractional trading with entry points as low as €1, with trading fees set at 0.20% per transaction and no custody fees. The partnership reflects a growing trend of banks adopting API-based investment infrastructure for scalability and resilience.

Applied Digital (Nasdaq: APLD), a leading provider of high-performance AI infrastructure, has announced plans to break ground on Polaris Forge 2, a $3 billion, 280-megawatt (MW) AI Factory near Harwood, North Dakota. The campus, designed with capacity to scale beyond 280MW, will begin initial operations in 2026 and reach full capacity in early 2027. The facility will employ over 200 full-time employees and is being developed on more than 900 acres with power secured through Cass County Electric Cooperative [1].

This expansion follows the success of their Polaris Forge 1 Ellendale campus and reinforces North Dakota's position as a strategic destination for AI infrastructure. Applied Digital's planned $3 billion investment in the Polaris Forge 2 campus marks a substantial scaling of their AI infrastructure business. The 280MW facility, with capacity to grow even larger, represents a major commitment to capturing the surging demand for AI compute power. Most importantly, the company has disclosed they're in advanced negotiations with a U.S.-based investment-grade hyperscaler as a potential anchor tenant, indicating strong commercial validation for this expansion [1].

The strategic selection of North Dakota for this second major campus demonstrates Applied Digital's focus on locations with abundant power resources, favorable regulatory environments, and lower operating costs. This facility will complement their existing Ellendale campus (Polaris Forge 1), creating a robust regional footprint that can serve multiple hyperscalers and enterprise clients. The phased deployment schedule – initial operations in 2026 and full capacity by early 2027 – provides a clear timeline for when this investment will begin generating revenue. With projected employment of over 200 full-time staff plus contractors, the scale of operations reflects the significant computing capacity being built. The secured 900+ acres provides ample room for the initially planned two facilities plus future expansion, giving Applied Digital flexibility to scale as demand warrants [1].

Their partnership with local utilities Cass County Electric Cooperative and Minnkota Power Cooperative suggests they've secured the critical power infrastructure needed for reliable operations – a key differentiator in the competitive AI infrastructure market. Harwood-based AI Factory is designed for 280MW, with capacity to scale beyond, scheduled initial operations in 2026 and full capacity in early 2027, as Applied Digital expands in North Dakota to meet surging demand for compute power [1].

References:
[1] https://www.stocktitan.net/news/APLD/applied-digital-to-break-ground-on-3-billion-polaris-forge-2-campus-b5zhjxaksjrw.html