Applied Digital Corp. (APLD) ended a three-day losing streak, jumping 15.97% on Monday to close at $16.34 per share. The company announced plans for a $3 billion data center expansion, including the Polaris Forge 2 Campus with 280 MW of IT capacity on 900 acres. Full capacity is expected by 2027.

CEO Wes Cummins stated that the new data center represents the next stage in Applied Digital’s growth as a leader in high-performance AI infrastructure. The company has advanced negotiations with a U.S.-based investment-grade hyperscaler for the campus, citing North Dakota as a strategic location for AI capacity demand. Applied Digital remains a potential investment opportunity among AI stocks.

Read more at Yahoo Finance: Applied Digital (APLD) Ends Losing Streak on $3-Billion Data Center Expansion