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Applied Digital Secures $2.15 Billion Bond Financing for North Dakota AI Data Center

The firm will build the Polaris Forge 2 facility in Harwood, North Dakota, leased to Oracle, and anticipates $5 billion in revenue over 15 years.

Summary

Applied Digital completed $2.15 billion in bond financing to build its Polaris Forge 2 artificial intelligence (AI) data center in Harwood, North Dakota. The facility, leased to Oracle, is expected to generate approximately $5 billion in revenue during a 15-year contractual term. The large-scale financing reflects growing investment demand for infrastructure supporting AI-driven cloud computing and data processing operations.

Terms & Concepts
  • AI Data Center: A specialized data center designed to support artificial intelligence workloads that require high-performance computing and large-scale data handling.
  • Bond Financing: A funding method where an organization raises capital by issuing debt securities (bonds) to investors, to be repaid with interest over time.
  • Oracle: A major U.S. technology company known for enterprise software, cloud infrastructure, and database services.