Applied Digital secures loan facility with Macquarie for AI data centers

Applied Digital Corporation (NASDAQ: APLD) entered into a loan facility with Macquarie Group's Commodities and Global Markets business on December 18, 2025, to fund pre-lease development costs for new data center projects.

The facility was arranged through APLD DevCo LLC, a wholly owned subsidiary of Applied Digital, and provides capital for early-stage sourcing, planning, development, and construction of new data center campuses. The company stated it is in advanced negotiations with an investment-grade hyperscaler for multiple campuses and plans to draw an initial $100 million from the facility to support related development activities.

The loan facility supports Applied Digital's site-development strategy during the pre-lease phase, allowing the company to advance projects while aligning capital deployment with customer demand.

"This development facility strengthens our ability to move quickly on high-quality sites while maintaining capital flexibility," said Wes Cummins, Chairman and Chief Executive Officer of Applied Digital. "As demand for AI-optimized data center infrastructure continues to accelerate, this financing is intended to support our strategy of developing purpose-built campuses for hyperscale customers."

Applied Digital designs, builds, and operates data centers for artificial intelligence, cloud, networking, and blockchain workloads. The Dallas-based company was founded in 2021.

Northland Securities, Inc. acted as sole placement agent for the transaction. Lowenstein Sandler LLP served as counsel to Applied Digital, while Latham & Watkins LLP represented the lender.

The information is based on a company press release statement.

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