ABB Enhances Collaboration with Applied Digital in Power Technology
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2025
0mins
Partnership Expansion: ABB has expanded its partnership with Applied Digital to provide power infrastructure for a new AI Factory campus in North Dakota, focusing on medium voltage electrical systems for data centers.
Project Details: The Polaris Forge 2 campus will support 300 MW of AI data centers, with construction phased across two buildings set to open in 2026 and 2027, and is designed for future expansion.
Efficiency Goals: The collaboration aims to deliver advanced electrical architecture with high efficiency and a low Power Usage Effectiveness (PUE), positioning the campus as one of the most advanced AI facilities globally.
Financial Aspects: The financial details of the partnership remain undisclosed, with the second order booked in the fourth quarter of 2025 as part of a long-term agreement.
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Analyst Views on APLD
Wall Street analysts forecast APLD stock price to rise
10 Analyst Rating
10 Buy
0 Hold
0 Sell
Strong Buy
Current: 45.140
Low
36.00
Averages
52.22
High
99.00
Current: 45.140
Low
36.00
Averages
52.22
High
99.00
About APLD
Applied Digital Corporation is a designer, builder, and operator of sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads. The Company’s segments include data center hosting (Data Center Hosting Business) and high-performance compute hosting (HPC Hosting Business). The Data Center Hosting Business operates data centers to provide energized space to crypto mining customers. Customer-owned hardware is installed in its facilities, and the Company provides operational and maintenance services for a fixed fee. Its facilities include a 106 megawatt (MW) facility in Jamestown and a 180 MW facility in Ellendale, North Dakota. The HPC Hosting Business designs, builds, and operates data centers which are designed to support high-compute applications using advanced technologies and infrastructures to provide services to customers. Its HPC data center is located at its Polaris Forge 1 campus with 100 MW capacity.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Rapid Capacity Expansion: With this expansion, Applied Digital has surpassed 1.2 GW of contracted AI Factory capacity across four campuses, showcasing the company's rapid growth in the burgeoning AI infrastructure market.
- Positive Stock Reaction: Following the announcement of this major investment, Applied Digital's shares rose over 6% to approximately $48.14, reflecting investor optimism regarding the scale of the expansion, despite recent market volatility.
- Long-term Strategic Vision: Chairman and CEO Wes Cummins emphasized that this investment reflects the company's long-term vision of building high-performance digital infrastructure in underserved regions, aiming to capitalize on future growth potential.
See More
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- Long-Term Lease Revenue: Applied Digital is building 1 gigawatt of data center capacity, with 90% secured through long-term leases, creating a stable revenue stream, particularly with its partnership with CoreWeave expected to generate $11 billion in lease revenue over 15 years.
- Expanding Client Base: Applied Digital has a 400 MW lease agreement with CoreWeave, and as CoreWeave secures contracts with major clients like OpenAI, Applied Digital is likely to gain more data center construction business, further increasing its market share.
- Optimistic Growth Outlook: Applied Digital's stock has surged 436% over the past year, and despite a high price-to-sales ratio of 27, its long-term lease revenue pipeline and data center expansion potential suggest strong future growth, with all analysts covering the stock rating it a buy.
See More
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- Long-Term Lease Contracts: The company has secured a 15-year lease agreement with CoreWeave, expected to generate $11 billion in lease revenue for Applied Digital, which not only strengthens its cash flow but also highlights its critical position in the AI infrastructure market.
- Data Center Expansion Plans: Applied Digital is currently building 1 GW of data center capacity, with 90% of this capacity locked in through long-term leases, and it aims to expand its active data center capacity to 3.5 GW to meet the growing market demand.
- Market Recognition Boost: Despite Applied Digital's high price-to-sales ratio of 27, its stock has surged 436% over the past year, with all 12 analysts covering the stock rating it a buy, reflecting strong market confidence in its growth potential.
See More
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- Fuel Cell Technology Recognition: Bloom Energy's stock rose after Nebius Group selected its fuel cell technology for U.S. data center expansion, with potential revenue of up to $2.6 billion over a decade, indicating the growing importance of alternative power systems in AI facilities.
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See More
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- IBM Government Funding: IBM's stock surged by 12% after receiving a $1 billion grant from the US government to invest in its quantum computing business, which not only strengthens the company's technological capabilities but also positions it favorably for future market competition.
- Supportive Economic Data: Initial US weekly unemployment claims fell to 209,000, close to the expected 210,000, indicating stability in the labor market, while strong performance in manufacturing and housing further bolstered market confidence, despite the Philadelphia Fed business outlook survey dropping to a 5-month low.
- Oil Price Volatility: WTI crude oil prices experienced significant volatility on Thursday, initially rising before retreating over 1% after Iran stated that the latest US proposal had
See More
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- Major Lease Agreement: Applied Digital has signed a 15-year lease valued at approximately $7.5 billion with an undisclosed cloud titan for 300 megawatts of IT load, specifically designed for AI model training and inference workloads, further solidifying its position in the data center market.
- New Data Center Launch: The lease covers Applied Digital's fourth site, Polaris Forge 3, which spans over 600 acres and is expected to commence operations in August 2027, utilizing the company's proprietary waterless cooling technology to enhance energy efficiency and computing capacity.
- Expansive Market Opportunity: With hyperscalers planning to spend $725 billion in capital expenditures in 2026 alone, Applied Digital faces a massive market opportunity, having achieved a total contracted lease revenue of $31 billion, which could rise to $73 billion if customers choose to renew.
- Significant Expansion Potential: Over the past eleven months, Applied Digital has executed leases representing 1.2 gigawatts, while actively marketing more than 1.7 gigawatts of grid-connected utility power, demonstrating its strong expansion potential in the rapidly growing cloud computing market.
See More
