# Applied Digital

> Applied Digital designs, finances, builds and operates power-dense data centers for AI and high-performance computing. Its core proposition is not a new model or chip, but scarce, energized capacity: large campuses in power-accessible markets, direct-to-chip liquid cooling, and long leases with hyperscale tenants. The company has moved from crypto hosting toward an AI-factory landlord model, while retaining a legacy blockchain-hosting operation and a large majority stake in the spun-out GPU-cloud company ChronoScale.

- **Founded:** 2021
- **Headquarters:** Dallas, United States
- **Founders:** Wes Cummins (Co-founder, Chairman and CEO), Jason Zhang (Co-founder and President)
- **Team size:** Approximately 210 employees (supplied company data; exact current public count not confirmed)
- **Products:** Applied AI Factories, Polaris Forge 1, Polaris Forge 2, Delta Forge campuses, Blockchain data center hosting
- **Notable:** Listed on Nasdaq under ticker APLD., Named Best Data Center in the Americas at the 2025 Datacloud Awards., Signed three CoreWeave leases for 400 MW at Polaris Forge 1, representing approximately $11 billion of prospective lease revenue over the base terms.

## Products & services

- **Applied AI Factories** — Purpose-built, high-density data center campuses for AI training and inference, using direct-to-chip liquid cooling and a repeatable campus design.
- **Polaris Forge 1** — A 400 MW critical-IT AI campus in Ellendale, North Dakota, contracted to CoreWeave across three buildings.
- **Polaris Forge 2** — A Harwood, North Dakota AI campus with 200 MW contracted to an unnamed investment-grade U.S. hyperscaler and additional expansion potential.
- **Delta Forge campuses** — Southern U.S. AI-factory developments built around long-term hyperscaler leases, including Delta Forge 1 and Delta Forge 2.
- **Blockchain data center hosting** — Energized-space hosting for digital-asset mining customers at legacy North Dakota facilities.
- **Design, construction and operations** — End-to-end development from site and power procurement through engineering, tenant fit-out and long-term facility operation.

## Achievements

- Listed on Nasdaq under ticker APLD.
- Named Best Data Center in the Americas at the 2025 Datacloud Awards.
- Signed three CoreWeave leases for 400 MW at Polaris Forge 1, representing approximately $11 billion of prospective lease revenue over the base terms.
- Brought the first 100 MW direct-to-chip liquid-cooled building at Polaris Forge 1 into operation in 2025.
- Reported surpassing 1 GW of contracted capacity in May 2026.
- Delivered the second Polaris Forge 1 building in July 2026.
- Established a financing framework with Macquarie Asset Management of up to $5 billion.

## Latest updates

- **2026-07** — Applied Digital announced delivery of the second building at Polaris Forge 1.
- **2026-06** — The company priced $1.59 billion of senior secured notes to fund a fourth Polaris Forge 1 building.
- **2026-06** — Applied Digital signed a 210 MW long-term lease at Delta Forge 2 and announced a revolving credit facility of up to $550 million.
- **2026-05** — The company said contracted capacity had surpassed 1 GW after a lease at Polaris Forge 3.
- **2026-05** — Applied Digital completed the separation of its cloud business into Nasdaq-listed ChronoScale, retaining approximately 97% at closing.
- **2026-04** — The company disclosed a new hyperscaler tenant at the 430 MW Delta Forge 1 campus.

## Links

- Website: https://www.applieddigital.com/
- LinkedIn: https://www.linkedin.com/company/applied-digital-co
- Twitter/X: https://x.com/APLDDigital
- YouTube: https://www.youtube.com/watch?v=a3k8nbzIG14

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Profile page: https://yespress.io/applied-digital
Published by YesPress — https://yespress.io
Last updated: 2026-08-14