APLD Stock Jumps After Applied Digital Adds 75 MW At Polaris Forge 1 — ‘Power Is Only The Starting Point,’ Says CEO

• The latest delivery brings Polaris Forge 1’s fully operational critical IT capacity to 250 MW.
• The fully leased campus is contracted to deliver 400 MW of critical IT load at full buildout.
• Applied Digital is scheduled to report fiscal first-quarter results next week.

Applied Digital (APLD) shares jumped in midday trade on Friday, after the AI data-center developer announced a major capacity milestone at its Polaris Forge 1 campus in North Dakota.

The latest milestone covers the second phase of Building 2, adding three 25 MW data halls and completing the building’s full 150 MW of critical IT load.

“Securing power is only the starting point,” said Applied Digital Chairman and CEO Wes Cummins. “The real work is designing, building, commissioning, and operating the infrastructure that transforms those megawatts into usable capacity for customers.”

APLD stock rose around 5% in midday trade, paring gains after hitting an intra-day high of over $26. On Stocktwits, retail sentiment around Applied Digital rose to ‘extremely bullish’ from ‘bullish’ territory over the past day. 

Polaris Forge 1 Targets 400 MW At Full Buildout

Polaris Forge 1 is located in Ellendale in North Dakota, where Applied Digital has operated since 2021. The company said the campus reflects its approach of developing large-scale data center infrastructure specifically for AI, machine learning, and other high-performance computing workloads.

The latest 75 MW delivery follows the first 100 MW building at Polaris Forge 1 and the initial 75 MW phase of Building 2.

At full buildout, the fully leased campus is expected to provide 400 MW of critical IT load. With 250 MW now operational, the latest delivery leaves another 150 MW to be brought online.

APLD Q1 Earnings Next Week

Applied Digital is scheduled to report its first quarter (Q1) earnings next week, on October 7. According to Koyfin data, Wall Street expects the company to report a loss of $0.35 per share on revenue of $125 million. The company has exceeded earnings estimates in each of the past eight quarters.

APLD stock has traded flat year-to-date and fallen over 3% in the last 12 months. 

Read also: NVDA Stock Hits Record High After Morgan Stanley Names Nvidia Top Pick, Says AI Trends Play To Its ‘Strengths’

For updates and corrections, email newsroom[at]stocktwits[dot]com.