Applied Digital Achieves Ready for Service for Phase 1 at Polaris Forge 1 Building 1 for CoreWeave
Applied Digital (NASDAQ: APLD) announced Ready for Service for the first phase (50 MW) of Building 1 at its Polaris Forge 1 AI Factory Campus in Ellendale, North Dakota, marking the initial delivery of a 100 MW building.
The campus is fully leased for 400 MW to CoreWeave under approximately 15-year leases, representing an estimated $11 billion in anticipated lease revenue; Polaris Forge 1 is engineered to expand to 1 GW over time. The company says the design uses liquid cooling and near-zero water consumption and estimates $2.7 billion in lifecycle cost savings over 30 years. Applied Digital also noted a separate $5 billion AI Factory lease at Polaris Forge 2 in Harwood, North Dakota.
Applied Digital (NASDAQ: APLD) ha annunciato Ready for Service per la prima fase (50 MW) della Building 1 presso Polaris Forge 1 AI Factory Campus a Ellendale, North Dakota, segnando la consegna iniziale di un edificio da 100 MW. Il campus è interamente locato per 400 MW a CoreWeave sotto contratti di circa 15 anni, rappresentando circa 11 miliardi di dollari di entrate da locazione previste; Polaris Forge 1 è progettato per espandersi a 1 GW nel tempo. L'azienda dice che il design usa raffreddamento a liquido e quasi nessun consumo di acqua e stima risparmi sui costi di ciclo di vita di 2,7 miliardi di dollari in 30 anni. Applied Digital ha anche segnalato una separata locazione da 5 miliardi di dollari per una AI Factory presso Polaris Forge 2 a Harwood, North Dakota.
Applied Digital (NASDAQ: APLD) anunció Ready for Service para la primera fase (50 MW) del Edificio 1 en Polaris Forge 1 AI Factory Campus en Ellendale, Dakota del Norte, marcando la entrega inicial de un edificio de 100 MW. El campus está completamente alquilado por 400 MW a CoreWeave bajo contratos de aproximadamente 15 años, representando unos ingresos de alquiler anticipados de unos $11 mil millones; Polaris Forge 1 está diseñado para expandirse a 1 GW con el tiempo. La empresa dice que el diseño utiliza enfriamiento líquido y consumo de agua casi nulo y estima ahorros de costos de ciclo de vida de $2,7 mil millones durante 30 años. Applied Digital también señaló un alquiler separado por $5 mil millones para una AI Factory en Polaris Forge 2 en Harwood, Dakota del Norte.
Applied Digital (NASDAQ: APLD)는 노스다코타 주 Ellendale의 Polaris Forge 1 AI Factory Campus에 있는 Building 1의 첫 단계(50 MW) Ready for Service를 발표했으며, 100 MW 건물의 초기 납품을 알렸습니다. 캠퍼스는 CoreWeave에 대해 약 15년 임대 계약으로 400 MW를 완전히 임대 중이며, 예상 임대 수익은 약 $110억 달러에 해당합니다; Polaris Forge 1은 시간이 지나며 1 GW까지 확장되도록 설계되었습니다. 회사는 설계가 액체 냉각을 사용하고 물 소비를 거의 하지 않으며 30년간 라이프사이클 비용 절감이 $27억 달러에 이를 것으로 추정합니다. Applied Digital은 또한 Harwood, North Dakota의 Polaris Forge 2에서 $50억 규모의 AI Factory 임대도 별도 언급했습니다.
Applied Digital (NASDAQ: APLD) a annoncé Ready for Service pour la première phase (50 MW) du bâtiment 1 au sein du Polaris Forge 1 AI Factory Campus à Ellendale, Dakota du Nord, marquant la livraison initiale d’un bâtiment de 100 MW. Le campus est entièrement loué pour 400 MW à CoreWeave sous des baux d’environ 15 ans, représentant environ 11 milliards de dollars de revenus de location prévus; Polaris Forge 1 est conçu pour s’étendre à 1 GW au fil du temps. L’entreprise affirme que le design utilise le refroidissement liquide et une consommation d’eau quasi nulle et estime des économies de coûts de cycle de vie de 2,7 milliards de dollars sur 30 ans. Applied Digital a également noté un bail séparé de 5 milliards de dollars pour une AI Factory à Polaris Forge 2 à Harwood, Dakota du Nord.
Applied Digital (NASDAQ: APLD) kündigte Ready for Service für die erste Phase (50 MW) des Gebäudes 1 auf dem Polaris Forge 1 AI Factory Campus in Ellendale, North Dakota, an und markierte die erste Lieferung eines Gebäudes mit 100 MW. Der Campus ist vollständig für 400 MW an CoreWeave vermietet unter ca. 15-Jahres-Pachtverträgen, was schätzungsweise 11 Milliarden Dollar an erwarteten Miet-Einnahmen bedeutet; Polaris Forge 1 ist darauf ausgelegt, sich im Laufe der Zeit auf 1 GW zu erweitern. Das Unternehmen gibt an, dass das Design Flüssigkeitskühlung verwendet und nahezu keinen Wasserverbrauch hat und schätzt 2,7 Milliarden Dollar an Einsparungen der Lebenszykluskosten über 30 Jahre. Applied Digital wies auch auf eine separate 5 Milliarden Dollar-AI-Factory-Miete bei Polaris Forge 2 in Harwood, North Dakota hin.
Applied Digital (NASDAQ: APLD) أعلنت جاهزية الخدمة للمرحلة الأولى (50 MW) من المبنى 1 في Polaris Forge 1 AI Factory Campus في Ellendale، داكوتا الشمالية، مما يمثل الإطلاق الأول لمبنى بقدرة 100 MW. الحرم الجامعي مستأجر بالكامل بمقدار 400 MW لـ CoreWeave بموجب عقود إيجار تقارب 15 عاماً، وهو ما يمثل إيرادات إيجار متوقعة بنحو $11 مليار دولار؛ يتم تصميم Polaris Forge 1 للتوسع إلى 1 GW مع مرور الوقت. تقول الشركة إن التصميم يستخدم التبريد بالسائل ويستهلك ماءً تقريبا صفرياً وتقدر وفورات تكلفة دورة الحياة بنحو $2.7 مليار دولار على مدى 30 عاماً. كما أشارت Applied Digital إلى عقد إيجار منفصل بقيمة $5 مليار لـ AI Factory في Polaris Forge 2 في Harwood، داكوتا الشمالية.
Applied Digital (NASDAQ: APLD) 宣布在 Ellendale, North Dakota 的 Polaris Forge 1 AI Factory Campus 的 Building 1 第一阶段（50 MW）Ready for Service，标志着一个 100 MW 建筑的初始交付。该园区已全部租给 CoreWeave，容量为 400 MW，租期约为 15 年，预计租金收入约为 $11 亿美元；Polaris Forge 1 设计可随时间扩展至 1 GW。公司表示设计采用液体冷却且几乎不耗水，预计在 30 年内可实现约 $27 亿美元 的生命周期成本节省。Applied Digital 还提到 Polaris Forge 2 在 Harwood, North Dakota 的 AI Factory 另一个 $50 亿美元 的租约。
- 50 MW Ready for Service on-time for Polaris Forge 1 Building 1
- 100 MW building initial delivery reached (first phase operational)
- 400 MW fully leased to CoreWeave under ~15-year agreements
- Estimated $11 billion in anticipated lease revenue from 400 MW
- $5 billion AI Factory lease secured at Polaris Forge 2
- Design efficiencies estimated to yield $2.7 billion lifecycle savings
- None.
Insights
Applied Digital reached Ready for Service for 50 MW at Polaris Forge 1, supporting a large, long‑term leased AI deployment.
Applied Digital delivered the first phase (50 MW) of the first 100 MW building at Polaris Forge 1 on
The business mechanism is straightforward: build purpose‑built AI capacity, secure long‑term leases, and monetize through multi‑decade contracts. Execution risk now shifts from construction to sustained operations, tenant commissioning, and adherence to commercial lease terms. The announcement explicitly states the next 50 MW is on track for delivery before year‑end, which is a clear near‑term milestone to confirm continued execution.
Key dependencies and risks include timely delivery of the remaining 50 MW for Building 1, successful tenant ramp and power availability, and realization of the stated lifecycle savings. Concrete items to watch: completion of the second 50 MW phase before the end of the year, tenant commissioning milestones, and any disclosures that quantify recognized revenue or cash flows tied to the ~15‑year leases over coming quarters. Expect these items to resolve over the next 3–12 months.
Milestone Demonstrates Industry-Leading Speed, Scale, and Execution for Next-Generation AI Infrastructure
DALLAS, Oct. 27, 2025 (GLOBE NEWSWIRE) -- Applied Digital (NASDAQ: APLD) achieved successful and on-time Ready for Service (RFS) for the first phase (50 MW), at the first 100 megawatt (MW) building at its Polaris Forge 1 AI Factory Campus in Ellendale, North Dakota. This milestone underscores Applied Digital’s execution as the company scales its AI infrastructure to meet contracted demand. In an environment where speed to market defines competitive advantage, delivering production-scale capacity on time reinforces Applied Digital’s position as a leading provider of AI-optimized infrastructure supporting the cutting-edge AI and high-performance computing (HPC) initiatives of its hyperscale tenant at Polaris Forge 1, CoreWeave.
The Polaris Forge 1 Campus establishes a new operational benchmark for speed-to-power at scale. The first 100 MW building, now Ready for Service for its first phase (50 MW), marks the initial delivery of a fully leased 400 MW critical IT load deployment for CoreWeave under approximately 15-year lease agreements, representing an estimated
“This Ready for Service milestone is a clear demonstration of our team’s ability to convert highly complex AI Factory designs from blueprint to production with precision and speed,” said Wes Cummins, CEO of Applied Digital. “Bringing the first phase of Polaris Forge 1 online in record time establishes a new standard for the future of data centers. Our team continues to redefine what is possible in delivering the infrastructure that fuels AI.”
With the first phase of delivery now operational, Polaris Forge 1 in Ellendale further positions North Dakota as an emerging epicenter for AI in America’s heartland while propelling Applied Digital’s state-of-the-art AI Factory Campus into full production.
“Bringing this first building online while on track to deliver the next 50 MW before the end of the year spotlights our team’s precise execution, strategic planning, and strong alignment with our innovative partners,” said Laura Laltrello, COO of Applied Digital. “We design every element of our facilities to enable breakthrough capabilities, while optimizing energy performance, flexibility, and total cost of ownership.”
Purpose-built, Polaris Forge 1 is engineered to expand to 1 gigawatt (GW) over time to meet the rapidly intensifying demands of AI and high-performance computing and implements Applied Digital’s proprietary design, including liquid cooling and power distribution innovations with near-zero water consumption. Combined with North Dakota’s cool climate and access to renewable power, these efficiencies are estimated to yield
This announcement comes on the heels of Applied Digital’s
About Applied Digital
Applied Digital (Nasdaq: APLD) named Best Data Center in the Americas 2025 by Datacloud — designs, builds, and operates high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads. Headquartered in Dallas, TX, and founded in 2021, the company combines hyperscale expertise, proprietary waterless cooling, and rapid deployment capabilities to deliver secure, scalable compute at industry-leading speed and efficiency, while creating economic opportunities in underserved communities through its award-winning Polaris Forge AI Factory model.
Learn more at applieddigital.com or follow @APLDdigital on X and LinkedIn.
Caution About Forward-Looking Statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and objectives and future financing plans. These statements use words, and variations of words, such as “will,” “continue,” “build,” “future,” “increase,” “drive,” “believe,” “look,” “ahead,” “confident,” “deliver,” “outlook,” “demonstrates,” “expect,” “project” and “predict.” Other examples of forward-looking statements may include, but are not limited to, (i) statements that reflect perspectives and expectations regarding lease agreements and campus development, (ii) statements about the HPC industry, (iii) statements of Company plans and objectives, including our evolving business model, or estimates or predictions of actions by suppliers, (iv) statements of future economic performance, and (v) statements of assumptions underlying other statements and statements about the Company or its business. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events and thus are inherently subject to uncertainty. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the Company’s expectations and projections. These risks, uncertainties, and other factors include: our ability to complete construction of the data centers at our Polaris Forge 1 and Polaris Forge 2 campuses; changes to AI and HPC infrastructure needs and their impact on future plans; risks associated with the leasing business, including those associated with counterparties; costs related to the HPC operations and strategy; our ability to timely deliver any services required in connection with completion of installation under the lease agreements; our ability to raise additional capital to fund ongoing and future data center construction and operations; our ability to obtain financing of the lease agreements on acceptable financing terms, or at all; our dependence on principal customers, including our ability to execute and perform our obligations under our leases with key customers, including without limitation, the lease agreements; our ability to timely and successfully build hosting facilities with the appropriate contractual margins and efficiencies; power or other supply disruptions and equipment failures; the inability to comply with regulations, developments and changes in regulations; cash flow and access to capital; availability of financing to continue to grow our business; decline in demand for our products and services; maintenance of third party relationships; and conditions in the debt and equity capital markets. A further list and description of these risks, uncertainties and other factors can be found in the company’s most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q, including in the sections captioned “Forward-Looking Statements” and “Risk Factors,” and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, on the Company’s website (www.applieddigital.com) under “Investors,” or on request from the Company. Information in this release is as of the dates and time periods indicated herein, and the Company does not undertake to update any of the information contained in these materials, except as required by law.
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FAQ
What did Applied Digital (APLD) announce on October 27, 2025 regarding Polaris Forge 1?
How much capacity is leased at Polaris Forge 1 to CoreWeave and for how long for APLD?
What is the estimated lease revenue tied to the 400 MW at Polaris Forge 1 for APLD?
What expansion and efficiency claims did Applied Digital make for Polaris Forge 1 (APLD)?
Is there related lease activity for Applied Digital beyond Polaris Forge 1 (APLD)?
