Applied Digital Corp (APLD) saw its stock price surge 17.03% during Monday's trading session, following the announcement of its plans to break ground on a massive new AI data center project in North Dakota.

The company revealed it will begin construction on Polaris Forge 2, a $3 billion, 280-megawatt AI data center near Harwood, North Dakota, in September 2025. This facility, set to have initial capacity in 2026 and reach full capacity in early 2027, represents a significant expansion of Applied Digital's infrastructure capabilities. The project includes over 900 acres of contracted land and has secured power through Cass County Electric Cooperative.

Applied Digital's CEO, Wes Cummins, emphasized the growing demand for AI capacity and North Dakota's strategic importance in meeting this need. The new campus is expected to create more than 200 full-time jobs once fully operational. This expansion builds on the company's existing Polaris Forge 1 campus in Ellendale, North Dakota, further solidifying the state's position as a national AI infrastructure leader. Investors appear to be reacting positively to the potential for significant revenue growth, with analysts projecting the company's sales to more than double in fiscal year 2026.