Applied Digital Shares Rise on Offering Pricing to Fund Data Centers

Dow Jones02:57

By Katherine Hamilton

Applied Digital shares rose after the company announced the pricing for a notes offering to fund its data center campus.

The stock gained 9% to $28.41 Wednesday. Shares have nearly quadrupled over the past 12 months.

The data center builder said it priced the offering at $2.15 billion for 6.75% senior secured notes due 2031. The issue price is 98%.

The notes will be sold in a private offering.

Applied Digital plans to use the net proceeds from the offering to develop and construct 200 megawatts of critical IT load at Polaris Forge 2, its AI factory campus in North Dakota.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

March 04, 2026 13:57 ET (18:57 GMT)

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