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Alternative asset manager CIM Group has closed on an initial $125 million loan commitment to fund the construction of Applied Digital Corp.’s high-performance computing campus in Ellendale, N.D. The note can increase to as much as $200 million.

The three-year, 12.0 percent note’s initial commitments totaling $125 million are supplemented by an accordion feature allowing for up to $75 million in further borrowings. The data center will offer massive computing power and support HPC applications.