Applied Digital Completes Phase II Ready for Service at Polaris Forge 1, Fully Energizing First 100 MW Building

Core Insights - Applied Digital successfully completed the second phase (50 MW) of its Polaris Forge 1 AI Factory Campus, bringing the total energized capacity to 100 MW [1][2][3] - The company is part of a larger 400 MW deployment for CoreWeave under long-term lease agreements, indicating strong demand for AI infrastructure [2][4] - The timely delivery of infrastructure aligns with the increasing demand for AI compute, positioning Applied Digital as a leading player in the AI infrastructure market [3][4] Company Performance - The completion of the first 100 MW building reflects the company's engineering discipline and execution reliability, meeting customer expectations for high-density systems [4] - Applied Digital has secured approximately $5 billion in leases with a U.S.-based Investment Grade Hyperscaler, raising total contracted revenue to around $16 billion across both campuses [4][5] - The company focuses on delivering high-density, production-scale AI infrastructure with an emphasis on speed, precision, and sustainability [5][6] Industry Context - The Polaris Forge 1 campus is designed to meet the accelerating demand for AI compute, showcasing the company's capability to deliver critical IT capacity efficiently [3][4] - Applied Digital has been recognized as the Best Data Center in the Americas 2025 by Datacloud, highlighting its leadership in the data center industry [6]