CIM Group has closed on an initial $125 million loan commitment with a potential increase up to $200 million to Applied Digital.
The loan will fund construction of Applied Digital’s High-Performance Computing (HPC) Campus in Ellendale, N.D. The data center is designed to provide massive computing power and support HPC applications.
Applied Digital is a designer, builder and operator of next-generation digital infrastructure designed for HPC applications. In October 2023, the company began construction on the first building, a 100-megawatt, 342,000-square-foot data center at its HPC campus in Ellendale, N.D. Additionally, Applied Digital has entered into exclusivity and executed an LOI with a U.S.-based hyperscaler for a 400-megawatt capacity lease at this campus. The campus has more than 600 megawatts of future capacity.
“As a long-term investor in digital infrastructure, CIM Group appreciates and supports the great strides Applied Digital is making with its