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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
As the global race for advanced computing capabilities intensifies, energy infrastructure has emerged as a critical factor for sustaining technology sector growth. In this context, Montana-Dakota Utilities, a subsidiary of MDU Resources Group, entered into an electric service agreement with Applied Digital to power an AI Factory. The agreement secures the necessary power infrastructure for the proposed large-scale Polaris Forge 3 data center facility near Center, North Dakota, reflecting the surging energy demand from the AI sector.
This move comes as the utilities sector experiences a surge driven by data center expansion, with industry reports projecting significant growth in electricity demand from data centers through 2030. Compared to peers, companies like NextEra Energy and Dominion Energy have recently inked similar deals to meet the needs of tech giants, per market data. This collaboration between MDU and Applied Digital is part of a broader trend linking traditional U.S. energy resources with new digital innovation hubs.
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Sign InRegarding stock performance, MDU stood at $21.29 while APLD closed at $46.59 (close June 18, 2026). Investors are closely monitoring the implementation milestones at the Polaris Forge 3 facility as future growth catalysts. On the economic calendar, traders are looking ahead to U.S. Retail Sales data scheduled for June 17 to gauge consumer spending strength and its secondary impact on infrastructure and tech sectors.