Polaris Forge 2: $3B Harwood AI Factory Mega-Campus

Status: Under Construction / Active Infrastructure Installation (Status: May 2026)   |   Location: 900+ Acre Contiguous Master-Planned Site, Harwood, ND 58042


Project Overview

Moving rapidly through its heavy civil construction phase in May 2026, Polaris Forge 2 is Applied Digital’s massive $3 billion foundational AI factory development. Spanning over 900 acres of open industrial land near Fargo, the facility is being built specifically to house next-generation AI training and massive LLM inference workloads. In March 2026, Applied Digital successfully priced a massive $2.15 billion issuance of senior secured notes to fully lock in construction capital for the site's initial 200 MW build block. The entire phase 1 footprint is locked into an exclusive, 15-year take-or-pay lease agreement worth roughly $5 billion in base-term revenue with a premium, confidential U.S.-based investment-grade hyperscaler. Architecturally departing from old multi-tenant corporate data storage, the campus utilizes Applied Digital's proprietary waterless layout design. By deploying extensive direct-to-chip liquid cooling loops and advanced closed fluid systems, the multi-building campus eliminates traditional evaporative water waste entirely while packing massive energy loads safely into dense GPU rack configurations.


Quick Facts Selected Details

Field Value
Project Name Polaris Forge 2: $3B Harwood AI Factory Mega-Campus
Location 900+ Acre Contiguous Master-Planned Site, Harwood, ND 58042
Status Under Construction / Active Infrastructure Installation (Status: May 2026)
Project Type Purpose-Built Wholesale AI Factory & Deep Learning Supercomputing Hub
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City Profile

Header Details
City Name Harwood
Population 8,500 (approx.)
Urban Agglomeration 9.4 million+ (Chicago Metropolitan Area)
Economic Profile 🔒 Detailed city intelligence available to subscribers

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