Data Centers · Report

Applied Digital (APLD) added 75 MW at Polaris Forge 1, and its stock jumped as CEO said 'Power Is Only The Starting Point'.

The 75 MW addition at Polaris Forge 1 adds AI-capable capacity for Applied Digital, and the CEO's remark signals that power alone will not determine project returns.

Trade pressSlicast · October 10, 2026 at 07:16 UTC · US · Source: Stocktwits

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Applied Digital completed the second phase of Building 2 at its Polaris Forge 1 campus, adding 75 MW of critical IT load across three data halls. 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 (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 intraday 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 is located in Ellendale, 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, another 150 MW remains to be brought online.

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.

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