COMPANIES · DATA CENTERS
Applied Digital
Applied Digital designs, builds, owns and operates large data center campuses in North Dakota and the U.S. South that are purpose-built for AI and other high-performance computing, and leases the capacity to large tenants. It began by hosting crypto-mining machines, which it still does at some sites.
Applied Digital designs, builds, owns and operates large data center campuses in North Dakota and the U.S. South that are purpose-built for AI and other high-performance computing, and leases the capacity to large tenants. It began by hosting crypto-mining machines, which it still does at some sites.
It is a landlord for AI compute: its Polaris Forge 1 campus was built for and leased to CoreWeave, and it has since signed leases with an unnamed investment-grade hyperscaler for further campuses. In July 2026 it separated its GPU cloud business into ChronoScale (Nasdaq: CHRN), of which it said it owns about 96%.
Collects long-term lease and hosting payments from AI cloud tenants such as CoreWeave and from crypto-mining hosting customers.
United States (Dallas, Texas)
Data centers and physical infrastructure. The buildings, land, cooling systems, backup power and electrical equipment that physically house AI computing. Every AI model has to run somewhere — these companies build and operate the real-world facilities that make that possible.
Connections (2)
Every connection below is tied to a readable source, date, classification and statement of its limits. A company source establishes what that company stated; it does not necessarily provide independent confirmation.
Current relationships (1)
Source: 2025-11-24 · reviewed 2026-09-26
Evidence: Primary-source statement · Reported operating
Limits: Establishes that the first building was delivered to CoreWeave; does not establish when the remaining buildings will be delivered, lease payments actually received, or what CoreWeave runs there or for whom.
Applied Digital Completes Phase II Ready for Service at Polaris Forge 1, Fully Energizing First 100 MW Building ↗Comparisons (1)
Source: 2025-10-22 · reviewed 2026-09-26
Evidence: Analytical comparison · Product/market overlap
Limits: Market overlap only: both repurpose power-rich sites for AI, but Applied Digital mainly leases buildings to tenants while IREN mainly rents out GPU capacity; does not establish head-to-head competition for any specific customer.
Crypto mines are turning into AI factories (Uptime Institute) ↗Applied Digital Reports Fiscal Fourth Quarter and Full Year 2026 Results ↗
Reviewed
Inclusion in this database is not an endorsement of a company or its securities. Nothing here is a recommendation to buy or sell anything, and none of it is individualized investment advice. See the disclosures. Data: AI Map v3.24, released .