Shares of Applied Digital Corporation ( APLD ) are trading higher Monday after the cloud computing infrastructure company completed one of three buildings it was contracted to build on a North Dakota campus.

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What To Know: Applied Digital ( APLD ) announced the first building of the company’s Polaris Forge 1 AI factory campus now operates at its full 100 MW critical IT load. The campus, which is located in Ellendale, North Dakota, is part of a 400 MW fully contracted deployment for CoreWeave under long-term lease agreements.

“Bringing this first 100 MW building to full critical load on schedule reflects the engineering discipline and execution reliability our customers expect,” said Todd Gale, chief development officer of Applied Digital ( APLD ).

“These AI Factory builds are complex, high-density systems, and delivering them at this speed and quality demonstrates the strength of our design, the rigor of our construction model, and our commitment to meeting the real deployment timelines of large-scale AI workloads."

Applied Digital ( APLD ) said it recently executed a lease worth $5 billion for a U.S.-based investment grade hyperscaler at its Polaris Forge 2 campus, bringing total contracted revenue to around $16 billion across both campuses.

APLD Price Action: Shares of Applied Digital ( APLD ) were trading up 10.86% at $23.38 at the time of publication on Monday, according to Benzinga Pro.

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