Data Center View - May 6, 2025 - Applied Digital outlines $5 billion data center plan

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NEWS ROUNDUP

EXPANSION: Applied Digital outlines $5 billion data center plan. CEO Wes Cummins announced key advancements in Applied Digital’s High Performance Computing (HPC) Hosting segment, including a partnership with Macquarie Asset Management for up to $5 billion in capital and a $375 million financing deal with Sumitomo Mitsui Banking Corporation. These funds will support the Ellendale campus, where the first building is set to generate revenue in Q4 2025, with additional buildings completing in 2026 and 2027.

EXPANSION: Digital Realty plans data center expansion. Digital Realty is planning two major data center campuses in Charlotte, NC, and Forest Park, GA, totaling up to 600MW of capacity. In Charlotte, the company filed plans for a 156-acre site where it aims to develop over 3 million SF across two buildings with up to 400MW of capacity. The site was acquired for $160M and requires rezoning approval. Digital Realty also purchased three additional Charlotte parcels for a combined $36M, including land adjacent to its existing facility, which it plans to expand from 2MW to 12MW. In Georgia, the firm bought a 97-acre site in Forest Park from TPA Group for $120M to develop a 200MW campus. The announcement follows the launch of a $10B hyperscale-focused data center fund, with $1.7B raised in its first closing. Digital Realty reported 7% year-over-year growth in data center revenue in Q1 and a record $919M leasing backlog, with 63% of its 814MW development pipeline already preleased.

DEVELOPMENT: Edged tops out Phoenix data center. Edged has topped out its 36MW data center in Mesa, Arizona. The announcement was made during a ceremony with general contractor Haydon Building. CEO Bryant Farland emphasized the company’s commitment to safety and performance, and announced Light Source Communications as the first network provider joining the facility. The 210,000 SF, two-story facility broke ground in August 2024 and is set to be fully operational by late 2025. The site will feature ThermalWorks’ waterless cooling technology, supporting densities up to 200kW per rack. LSC CEO Debra Freitas said the partnership aligns with LSC’s strategy to support AI and HPC infrastructure in the Phoenix metro.

DEVELOPMENT: Atlas files for 428-acre park outside Atlanta, Georgia. Atlas Development has filed plans for Avemore, a 428-acre data center and technology park in Villa Rica, Georgia. The project, submitted as a Development of Regional Impact, is set to launch its first phase in 2028. While current filings don’t confirm building specifics, prior rezoning requests suggest up to seven 350,000 SF buildings and a $5–7 billion investment. Property owners include Avemore GA, Matthews Family Trust, Winchester Real Estate Investment Company, and Villa Land. The site was previously zoned for a 500-unit residential project. Atlas has filed several other large-scale data center plans across Georgia, including projects in Newnan, Rome, and Bartow County. Villa Rica is one of several emerging submarkets near Atlanta, which remains a key U.S. data center hub.

FUNDRAISING: Blueprint secures investment. Blueprint Data Centers has received a strategic investment from Northampton Capital Partners to accelerate the development of its data center portfolio in Texas. Founded in 2023, Blueprint is currently developing two sites totaling 85MW near Austin—a 60MW facility in Taylor and a 25MW site in Georgetown—slated to come online in 2026. Scott McBride, founding partner at Northampton, praised Blueprint’s leadership team, including co-founder and CEO Yaerid Jacob, for their progress and vision. Jacob, formerly of Triune Energy Services, emphasized the partnership’s alignment with Blueprint’s strategic goals. Kirkland & Ellis advised Northampton on the transaction. Terms of the deal were not disclosed.

READ: Nuclear power could meet 10% of data center demand increase by 2035.

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