Applied Digital Corporation announced a proposed private offering of $1.59 billion in senior secured notes due 2031 to fund the construction of a new 150 MW AI data center building at its Polaris Forge 1 campus in North Dakota. The proceeds will also repay a bridge loan from Goldman Sachs, fund debt reserves, and cover transaction costs. The notes will be secured by assets and equity interests of the subsidiary and guaranteed by related entities. This financing supports Applied Digital's expansion in high-performance AI data centers, reflecting its growth strategy in sustainable, scalable computing infrastructure.
Applied Digital Corporation has priced $1.59 billion in 7.000% senior secured notes due 2031 to finance the construction of its fourth building at the Polaris Forge 1 AI Factory campus in North Dakota. The proceeds will also repay a bridge loan from ...
Applied Digital Corporation secured a 210 MW, $5.2 billion, 15-year lease at Delta Forge 2, expanding its contracted revenue backlog to $36 billion across five campuses. This deal highlights the strength of APLD's franchise model, which now has 1.4 G...
Applied Digital has secured a 15-year lease agreement worth approximately $5.2 billion for 210 MW of critical IT load at its new Delta Forge 2 AI Factory campus in a southern U.S. state. This marks the company's fifth AI Factory campus and expands it...
Applied Digital has secured a $5.2 billion long-term lease agreement for 210 MW of critical IT load at its new Delta Forge 2 AI Factory campus in a southern U.S. state. This marks the company's fifth AI Factory campus and expands its franchise model,...
