Applied Digital Reportedly Eyes Finland for Major AI Campus Expansion

Applied Digital Corp (NASDAQ: APLD) is reportedly expanding its operations internationally, with plans to secure up to 1 GW of power in Finland for a new AI data center campus. However, as of early October 2026, the company has not publicly disclosed any plans for this expansion or power procurement. Investors should treat the report as unverified until Applied Digital confirms it.

The company recently completed an expansion at its Polaris Forge 1 campus, adding 75 MW and bringing the site’s operational capacity to 250 MW. Applied Digital aims to reach 400 MW at that campus by 2028. Currently, the company has approximately $36 billion in contracted long-term leases across five AI campuses, with a combined critical IT load capacity of 1.41 GW.

Finland has emerged as a hotspot for AI infrastructure investments, with Google announcing a €13 billion investment in the country in September 2026. Additionally, APL Group, a separate company, has a 100 MW hyperscale project in Finland. Applied Digital’s shift from blockchain-centric operations to AI-focused facilities, which it calls AI factories, has positioned it for long-term partnerships with investment-grade hyperscalers.

For investors, the key takeaway is to wait for official confirmation. A move of this magnitude would typically appear in company filings or announcements. Until then, the verified numbers remain 250 MW operational at Polaris Forge 1, 1.41 GW of contracted capacity, and roughly $36 billion in leases.