Applied Digital has signed a US$5 billion lease agreement with an unnamed US-based hyperscaler for its Polaris Forge 2 campus in North Dakota.

The deal covers 200 megawatts of IT capacity over a 15-year term, bringing the company’s total leased capacity in the state with two large hyperscalers to 600 megawatts.

The lease also gives the hyperscaler first right of refusal to expand by an additional 800 megawatts at the same site.

Polaris Forge 2, now under construction, is expected to bring its initial buildings online in 2026 and reach full 200-megawatt capacity in 2027.

The 900-acre campus is designed for energy efficiency and future expansion.

Founded in 2021, Dallas-based Applied Digital builds large-scale data centers for AI and high-performance computing workloads.

🔗 Source: Applied Digital