Applied Digital Prices $2.15B Notes to Build 200 MW AI Data Center
Applied Digital has priced $2.15 billion of 6.75% senior secured notes due 2031 to finance its 200-megawatt Polaris Forge 2 AI data center in North Dakota. Babcock & Wilcox received notice to proceed on a $2.4 billion, 1.2-gigawatt power generation project supplying electricity to Applied Digital’s AI Factory campuses.
1. Bond Offering Details
Applied Digital has closed pricing on $2.15 billion of 6.75% senior secured notes maturing in 2031, marking its largest debt raise to date. The proceeds will bankroll the construction of the 200 MW Polaris Forge 2 AI data center in North Dakota, expanding the company’s high-performance computing infrastructure.
2. Power Generation Project
Babcock & Wilcox received full notice to proceed on a $2.4 billion, 1.2 GW power generation project dedicated to Applied Digital’s AI Factory campuses. This integrated power infrastructure will provide stable, high-capacity electricity to support large-scale AI and data center operations.