Applied Digital Secures Development Loan for AI Factory Campuses

By Chris Stiles • Tuesday, December 23 06:14 • Permanent Link

Applied Digital Corporation (NASDAQ: APLD) has recently announced the completion of a development loan facility with Macquarie Group's Commodities and Global Market's business to support new AI Factory campuses. The loan facility, entered into on December 18, 2025, by APLD DevCo LLC, a wholly owned subsidiary of Applied Digital, and Macquarie, provides pre-lease development capital to support the early-stage sourcing, planning, development, and construction of new data center campuses and other potential projects.

The company is in advanced-stage negotiations with an investment-grade hyperscaler for multiple campuses, and the initial $100 million in draws from this facility is intended to support related development activities at these campuses.

Wes Cummins, Chairman and Chief Executive Officer of Applied Digital, stated, "This development facility strengthens our ability to move quickly on high-quality sites while maintaining capital flexibility. As demand for AI-optimized data center infrastructure continues to accelerate, this financing is intended to support our strategy of developing purpose-built campuses for hyperscale customers."

In connection with the loan facility, Northland Securities, Inc. (d/b/a Northland Capital Markets) acted as sole placement agent. Lowenstein Sandler LLP acted as counsel to the company and Latham & Watkins LLP acted as counsel to the lender.

Applied Digital, named the Best Data Center in the Americas 2025 by Datacloud, designs, builds, and operates high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads. The company combines hyperscale expertise, proprietary waterless cooling, and rapid deployment capabilities to deliver secure, scalable compute at industry-leading speed and efficiency, while creating economic opportunities in underserved communities through its award-winning Polaris Forge AI Factory model.

These developments reflect Applied Digital's continued advancement in multiple large-scale data center opportunities as part of its broader AI infrastructure platform, aligned with growing hyperscale demand. As a result of these announcements, the company's shares have moved 13.77% on the market, and are now trading at a price of $27.19. Check out the company's full 8-K submission here.

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