WPV Seeks to Expand Alternatives Portfolio Over 3 Years through Established Fund Manager Partnerships.

WPV plans to expand its alternatives portfolio over the next three years, with a focus on private equity. The institution aims to partner with established fund managers to deploy €200 million in PE investments.

Applied Digital Corp. (Nasdaq: APLD) has announced plans to construct a $3 billion AI factory in North Dakota, scheduled to commence operations in 2026. The project, named Polaris Forge 2, aims to meet the growing demand for AI computing capacity and will be located near Harwood, North Dakota [1].

The initiative, supported by local utilities and government, is expected to create over 200 jobs and significantly boost rural economic growth. Applied Digital has secured power access through Cass County Electric Cooperative and is negotiating with a U.S.-based investment-grade hyperscaler [1]. The project is part of the company's strategic expansion plans, following the success of the Polaris Forge 1 Ellendale campus.

The decision to build Polaris Forge 2 comes at a time when demand for AI computing capacity is surging, driven by hyperscalers, enterprises, and research organizations. North Dakota's abundant energy resources, substantial land availability, and business-friendly climate make it an attractive location for the expansion [1].

Wes Cummins, CEO of Applied Digital, highlighted the strategic benefits of the project. "Polaris Forge 2 represents the next stage in Applied Digital’s rapid growth," Cummins stated. "North Dakota continues to be one of the most strategic locations in the country to meet the accelerating demand for AI capacity" [1].

The project entails the development of two initial facilities with the possibility for future extensions. The site is expected to employ more than 200 full-time staff members and long-term contractors [1]. The Greater Fargo Moorhead Economic Development Corporation (GFMEDC) and local officials have expressed strong support for the project, recognizing its potential to create jobs and bolster the local talent pool [1].

In stock market developments, recent investor interest in Applied Digital was sparked by plans for Polaris Forge 2 and a consequent positive earnings report. The stock achieved a milestone by breaking through a longstanding resistance level, signaling robust investor confidence [1].

While analysts highlight the growth potential of Applied Digital, they also caution about risks in the evolving AI infrastructure sector. The company's ongoing strategic initiatives and favorable financial performances suggest promising prospects for future growth in the AI infrastructure space [1].

References:
[1] https://www.ainvest.com/news/apld-stock-surges-applied-digital-plans-3-billion-ai-factory-expansion-2508/