Applied Digital Extends 11-Day Rally on AI Infrastructure Momentum

Overview

• Applied Digital shares climbed 19.38% to $24.45 after touching $24.85 intraday, marking an 11th straight gain.
• The surge tracked reports that Nvidia plans a $100 billion commitment related to OpenAI, including at least 10 GW of systems with an initial phase targeted for the second half of 2026 on the Vera Rubin platform.
• A recent filing outlined Polaris Forge 1 as a 1-gigawatt site, with a first 100-megawatt facility slated to be operational in Q4 2025 and additional 150-megawatt builds in 2026 and 2027.
• The company has broken ground on Polaris Forge 2, a roughly $3 billion campus near Harwood, North Dakota, targeting 200 megawatts initially, early operations in 2026, and full capacity by 2027.
• Management said it is in advanced discussions with a U.S.-based investment-grade hyperscaler for an anchor lease, and it is reviewing options for its Cloud Services division to focus on core data centers.