Applied digital announces $5 billion ai factory lease with u.s. based investment grade hyperscaler at polaris forge 2 nd campus

Dallas, oct. 22, 2025 (globe newswire) -- applied digital (nasdaq: apld) announced today that it has entered into a lease agreement with a u.s. based investment grade hyperscaler at its state-of-the-art, purpose-built polaris forge 2 campus currently under construction near harwood, north dakota. this lease represents approximately $5 billion in total contracted revenue over an estimated 15-year lease term and covers 200 megawatts (mw) of critical it load purpose-built to support the hyperscaler's artificial intelligence (ai) and high-performance compute (hpc) infrastructure.
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