Applied Digital said it has signed an agreement securing access to as much as 1 GW of potential power capacity in Finland, where it plans to build an AI Factory campus that could scale to 1 GW. The first tranche of power is expected to become available in 2028. The move marks the company’s first development project outside the United States.
The Nasdaq-listed company said it has already begun presenting the project to customers and is in talks with large global hyperscaler clients. CEO Wes Cummins described the Finland buildout as a cautious first step in the company’s international expansion, while stressing that Applied Digital’s current strategic priority remains execution of its domestic U.S. projects.
Applied Digital still operates data center hosting services for crypto mining companies. Even so, the Finland project is positioned as AI and high-performance computing, or HPC, infrastructure. The company also said its current growth focus and capital allocation priorities have shifted toward AI data centers.
Applied Digital (NASDAQ: APLD) said it has signed an agreement that gives it access to up to 1 GW of potential power capacity in Finland, where it plans to develop an AI Factory campus that could scale to 1 GW. The first block of power capacity is expected to be available starting in 2028.
First project outside the United States
The Finland development is Applied Digital’s first project outside the U.S. The company said it has started introducing the project to customers and is in discussions with large global hyperscaler clients.
Management comments and strategic focus
CEO Wes Cummins said the project is only a cautious first step in the company’s international expansion. He added that Applied Digital’s current strategic focus remains on executing its U.S. projects.
Applied Digital still runs data center hosting services for crypto mining companies. The Finland site, however, is being positioned as AI/HPC infrastructure, and the company said its current growth and capital allocation priorities have shifted toward AI data centers.
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