Applied Digital jumps after closing $300M Goldman-led bridge loan for AI data center
APLD•Applied Digital shares rose after the company said it closed a $300 million senior secured bridge facility led by Goldman Sachs. The 364-day term loan will fund construction of its third AI data center at the Polaris Forge 1 campus in Ellendale, North Dakota.
1. What’s moving the stock
Applied Digital is higher in Monday trading (May 4, 2026) after announcing it closed a $300 million senior secured bridge facility led by Goldman Sachs. The financing provides near-term capital tied directly to the buildout of its AI data center capacity, a key focus for investors watching the company’s hyperscale and HPC infrastructure pipeline. (stocktitan.net)
2. Deal terms and use of proceeds
The company said the bridge facility is structured as a $300 million term loan with a 364-day maturity, bearing interest at SOFR plus 275 basis points. The loan is secured by project assets, is prepayable without a premium, and is intended to fund continued development and construction of Applied Digital’s third AI data center at its Polaris Forge 1 campus in Ellendale, North Dakota. (stocktitan.net)
3. Why investors care
The announcement reinforces Applied Digital’s ability to source project-level capital as it scales AI-oriented data center capacity, which can help de-risk construction timelines and support future lease execution. At the same time, the short tenor means investors are likely to focus on refinancing plans and the company’s stated expectation that it will seek additional financing to complete construction, which could affect funding costs and capital structure. (stocktitan.net)
