Applied Digital shares rose roughly 5% Thursday after the company said the second phase of Building 2 at its Polaris Forge 1 AI Factory campus in Ellendale, North Dakota, reached Ready for Service status on October 2, 2026. The milestone added 75 megawatts of critical IT load across three 25 MW data halls, lifting the campus’s operational total to 250 MW. Polaris Forge 1 is fully leased under long-term agreements, with CoreWeave as its anchor customer, and is designed to reach 400 MW. Applied Digital has about 1.41 gigawatts of contracted critical IT load across five AI Factory campuses, representing roughly $36.2 billion in base-term revenue over initial 15-year leases. The company is scheduled to report fiscal first-quarter 2027 results on October 7, 2026.