Polaris Forge 1: $300B AI Data Center & Ellendale Expansion
Status: Active Construction / Phase 3 Funding Secured (May 2026) | Location: Polaris Forge 1 Campus, Ellendale, ND
Project Overview
On May 4, 2026, Applied Digital secured a $300 million bridge financing facility led by Goldman Sachs to complete construction of its third AI-focused data center at the Polaris Forge 1 campus in Ellendale, North Dakota. This facility has been purpose-built to support next-generation workloads, including artificial intelligence, high-performance cloud networking, and blockchain infrastructure, reflecting the rapid evolution of compute-intensive technologies. A key technical advantage of the Ellendale site is its location in a naturally cold climate, which enables highly efficient cooling systems and significantly reduces energy consumption compared to traditional data center environments. This allows the facility to sustain ultra-high rack densities necessary for advanced GPU clusters, such as NVIDIA’s H200 and B200 architectures, which demand substantial thermal and power management capabilities. The project exemplifies the emerging “Bridge-to-Build” financing model that has gained traction in 2026, where developers secure short-term, asset-backed loans to accelerate construction timelines while negotiating long-term hyperscale leasing agreements in parallel. This approach helps operators remain agile in a fast-moving AI infrastructure market, ensuring that capacity comes online quickly to meet surging demand without waiting for finalized tenant commitments.
Quick Facts
| Field | Value |
|---|
| Project Name | Polaris Forge 1: $300B AI Data Center & Ellendale Expansion |
| Location | Polaris Forge 1 Campus, Ellendale, ND |
| Status | Active Construction / Phase 3 Funding Secured (May 2026) |
| Commissioning | Phase 3 Ready-for-Service: Estimated H2 2026 |
| Total IT Load | 180.0 MW (Phase 3 Expansion Focus) |
| Total Capacity | Campus designed for high-performance AI & GPU Colocation |
| Tier Level | Tier III (High-Density Specialized) |
| Project Type | Purpose-Built AI & High-Performance Computing (HPC) |
City Profile
| Header | Details |
|---|
| City Name | Ellendale |
| Population | ~1,150 (2020 Census: 1,096; estimated slight growth since) |
| Urban Agglomeration | Not officially defined; part of a very small rural region (Dickey County total ~4,800) |
| City GDP | Not separately reported; economy tied to Dickey County and North Dakota’s state GDP (~$70B+) |
| Per Capita Income | ~$28,000–$32,000 (estimated based on census and regional data) |
| City Tier | Tier 4 (Rural small town) |
| Key Strengths | Home to Trinity Bible College & Graduate School |
Companies Involved
| Header | Details |
|---|
| Developer / Operator | Applied Digital |
| Strategic Infrastructure Partner | Goldman Sachs (Bridge Facility Lead). |
| Construction Contractor | Self-performed / Specialized Industrial Partners. |
| MEP Engineering | $N+1$ Mechanical; Optimized for high-density liquid cooling. |
| Network Connectivity | Diverse carrier paths; Low-latency links to Midwest cloud hubs. |
| Power Infrastructure | Dedicated campus substation; Expanding to 180MW+ total IT load. |
Technical Specifications
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| Power Capacity | 180.0 MW+ |
| UPS Redundancy | $N+1$ (Optimized for steady-state AI training). |
| Cooling System | Hybrid Liquid Cooling & Evaporative Free-Air. |
| Connectivity | Direct peering with major AI compute providers. |
| PUE Target | < 1.20 |
| Energy Mix | High percentage of local wind energy integration. |
Milestones
| Header | Details |
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| Announcement | May 4, 2026 |
| Construction Start | Q2 2026 |
| Phase 1 Go-Live | Late 2026 |
| Full Buildout | 2027 |
Investment Details
| Header | Details |
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| Total Investment | $300 Million (Phase 3 Bridge Loan Only) |
| Funding | Goldman Sachs Secured Bridge Facility. |