Applied Digital confirms a $3.2B Alabama AI campus

Applied Digital confirmed its Delta Forge 2 AI Factory in Brookwood, Alabama, a campus representing more than $3.2 billion in investment and expected to support 210MW of IT load. WBRC’s report on the confirmation says construction peaks above 1,000 workers, while Applied Digital’s lease announcement puts the 210MW capacity inside a 15-year take-or-pay contract worth about $5.2 billion in base-term revenue. For builders, file this as another signal that AI capacity is being contracted as long-duration power-and-real-estate infrastructure, not bought like ordinary cloud inventory; Eliyan’s chip-interconnect analysis shows the same bottleneck below the campus level.