New York, Jan 23, 2026, 15:07 EST — Regular session ongoing.
- Applied Digital shares jumped roughly 10% in afternoon trading, following news it broke ground on a new AI data center campus
- Delta Forge 1 targets an initial capacity of 430 MW for utility power, aiming to begin operations by mid-2027
- Investors want a named tenant and specific site info; the CEO promised the location would be revealed in February
Applied Digital Corp (APLD.O) shares jumped 9.8% to $38.13 in Friday afternoon trading, following news of a new AI-focused data center project. The stock hit a high of $38.98 during the session.
Applied Digital has started construction on “Delta Forge 1,” an “AI Factory” campus located in a southern U.S. state. The facility will initially have 430 megawatts (MW) of utility power capacity, supporting up to 300 MW of “critical IT load”—the power dedicated to computing equipment after accounting for facility overhead. 1
Power and cooling have emerged as crucial bottlenecks in large-scale AI deployments, making the ability to secure electricity and complete facilities on time a key focus for developers. “AI Factories succeed or fail based on how effectively power, cooling and operations are integrated,” Chairman and CEO Wes Cummins said in the statement. 2
Delta Forge 1 is set to launch with two 150-MW facilities spread over more than 500 acres, with operations slated to begin around mid-2027, according to Data Center Dynamics, which cited the company. Applied Digital added the campus could eventually employ over 200 full-time workers once fully up and running.
Applied Digital is positioning itself as a key player in building and running high-performance computing (HPC) data centers amid rising AI workload demand. In early January, the company announced that CoreWeave has 400 MW under contract at its Polaris Forge 1 campus, while a U.S.-based investment-grade hyperscaler holds a 200-MW lease at Polaris Forge 2, both located in North Dakota. 3
Shares of other U.S.-listed firms linked to the “crypto-to-AI hosting” trend also climbed Friday. Core Scientific added roughly 4.5%, while Hut 8 jumped around 7.3% in afternoon trading.
Delta Forge 1 remains a lengthy project, with Applied Digital yet to reveal the campus location or identify any tenants. The company warned that delays in construction, shifts in customer leasing, and financing hurdles could push results off course. 4
Applied Digital’s investor relations calendar lists no upcoming events, leaving the timing of the next formal update uncertain. This shifts focus onto sporadic disclosures about the site, tenant, and project funding as the build progresses from announcement to execution. 5
Cummins told The Register the company will reveal the location of Delta Forge 1 in February. “We’re not trying to hide anything,” he said, noting the challenges smaller communities encounter when projects attract national scrutiny. 6
