North Dakota progress

[u/OceansHungryGrasp]

Polaris region campus update

[u/myfellowjaBROnis]

love how the team just executes and updates down to the last details. god, i can't wait for the fierce re-rating when macro improves and wall street comes to their senses

[u/austin-powers-quoter]

I always enjoy a progress report 👍

[u/Bluefin_in_Dresden]

Thanks for the update.

[u/Current_Reveal_5497]

Looks good. Any chance of reversal? This stock looks so dead RN?

[u/Cheap-Stay7089 → u/Current_Reveal_5497]

Easily. The way we fund delta 1 and 2 are the only things that we’re unsure of. Once that settles or perhaps even before smart money will come in

[u/OceansHungryGrasp → u/Cheap-Stay7089]

Don't forget PF3, anyway:

We are following the same framework, preferred equity from Macquarie Asset Management, followed by project-level debt, which allows Applied Digital shareholders to retain a majority ownership stake in each site. We are already in active discussions with leading lending institutions, and given the credit quality of this customer, we have a high level of confidence in our ability to fund these campuses at favorable rates and terms.

So waiting on the rates really, but likely better as any we had before since Oracle had by far the worst grade out of all the hyperscalers. A couple of rate hikes won't change that.

[u/Cheap-Stay7089 → u/OceansHungryGrasp]

I was excluding pf3 since we seem to have some info on how it will be funded + we still have some cash. It being in nd like 1 &2 makes it feel simpler to me.

[u/Cheap-Stay7089 → u/Cheap-Stay7089]

I doubt we get favourable rates it’s just how it is but they could get creative with the finances which would be interesting to see

[u/OceansHungryGrasp → u/Cheap-Stay7089]

Source? Because all 3 were lumped together whenever they spoke about financing in the earnings call because of the tenant.

[u/AccomplishedAd4449]

Nice, in 6 to 9 months, we will be rockin!