Applied Digital (NASDAQ: APLD), a Dallas-based data center developer and operator, announced it has entered into an agreement providing access to up to 1 gigawatt of potential power capacity in Finland, marking the company's first development opportunity outside the United States.

The company plans to build a large-scale AI data center campus in Finland capable of scaling to as much as 1 GW. Initial power availability is anticipated beginning in 2028. Applied Digital said it has begun marketing the site and is engaged in discussions with hyperscale customers.

According to the company, future investment and development decisions will be tied to customer demand, commercial milestones, and the achievement of regulatory and development requirements.

Wes Cummins, Chairman and CEO of Applied Digital, said the Finland agreement represents a deliberate first step rather than a strategic shift. "Our focus remains firmly on executing the projects in front of us in the United States," Cummins said, adding that the company aims to "selectively secure compelling sites that can extend our growth runway over the long term."

The announcement, based on a company press release, states that Applied Digital's near-term priorities remain centered on its U.S. portfolio. The Finland agreement was structured to limit initial capital exposure while providing long-term growth potential, the company said.