Applied Digital secures up to 1 GW power capacity in Finland for first international AI campus
Applied Digital announced a binding agreement to access up to 1 GW of potential power in Finland, marking its first development outside the United States. The company intends to build a large‑scale AI Factory campus that could scale to the full gigawatt, with initial power expected in 2028. It is already marketing the site to global hyperscale customers while keeping its U.S. projects as the primary focus.
Why it matters
Texas Capital Securities reiterated a Buy rating and a $71.00 price target, saying the deal broadens growth opportunities for the company. The announcement also triggered a roughly 2% rise in APLD pre‑market trading, reflecting investor optimism about the new European foothold.
Key facts
- 1Applied Digital entered an agreement providing access to up to 1 GW of potential power capacity in Finland. globenewswire.com
- 2Initial power availability is anticipated beginning in 2028. globenewswire.com
- 3The agreement represents the company's first development opportunity outside the United States. globenewswire.com
- 4The company plans to build a large‑scale AI Factory campus that can scale to as much as 1 GW. globenewswire.com
- 5Shares rose about 2% in pre‑market trading after the announcement. seekingalpha.com
- 6Texas Capital Securities reiterated a Buy rating and set a $71.00 price target, citing broadened opportunities. investing.com
Summary written by AlphAI from 13 of 13 sources. Not investment advice. Figures are as stated by the linked sources.