Applied Digital Completes $1.59 Billion Guaranteed Notes Issuance for North Dakota Data Center Expansion

Applied Digital has finalized a $1.59 billion secured notes offering to fund data center expansion in North Dakota. The secured notes represent debt financing that provides capital for the company to build out additional infrastructure capacity.

The deployment reflects ongoing investment in AI-focused compute infrastructure as demand for GPU-backed data center resources continues to drive expansion. Applied Digital's financing activity signals confidence in sustained demand for large-scale computing facilities dedicated to AI workloads.

The North Dakota expansion adds to the geographic diversification of AI compute infrastructure, potentially leveraging the region's cost advantages and power availability. This capital deployment represents a significant commitment to increasing available compute capacity for the broader AI buildout.