Applied Digital (APLD) announced it has entered into a loan facility with Macquarie Group’s Commodities and Global Market’s business to fund the pre-lease development costs for new data center projects. The facility was entered into on December 18, 2025, by APLD DevCo, a wholly owned subsidiary of Applied Digital, and Macquarie and provides pre-lease development capital to support the early-stage sourcing, planning, development, and construction of new data center campuses and other potential projects. Applied Digital is currently in advanced-stage negotiations with another investment-grade hyperscaler for multiple campuses and the initial $100M in draws from this facility is intended to support related development activities at these campuses. The loan facility is designed to support Applied Digital’s disciplined site-development strategy during the pre-lease phase, intended to enable the Company to advance projects efficiently while aligning capital deployment with customer demand.
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