Applied Digital Secures $100 Million Macquarie Facility for AI Data-Center Development

Overview

• APLD DevCo LLC entered a $100 million loan facility with Macquarie’s Commodities and Global Markets unit to finance pre-lease development of new data-center projects.
• Applied Digital said it is in advanced negotiations with an investment-grade hyperscaler for potential leases covering multiple campuses.
• CEO Wes Cummins said the company is negotiating two to three additional campuses as it pursues its expansion pipeline.
• Shares fell 9.24% to $22 after reports that Blue Owl pulled back from supporting an Oracle data-center plan, then rebounded 8.64% to $23.90 following the financing announcement.
• The company points to recent execution and a large backlog, including a 100 MW Ellendale site that came online this month and about $16 billion in multi-year partnerships, with $11 billion from CoreWeave.