Applied Digital Corporation Common Stock (APLD)
Applied Digital Corporation (APLD) is a technology company that specializes in providing secure cloud infrastructure and digital asset hosting solutions. It focuses on leveraging advanced data center technologies to support the growing needs of digital asset management, blockchain applications, and high-performance computing. The company aims to enable secure, scalable, and efficient digital operations for enterprise clients.
Company News
Applied Digital is focusing on building enterprise data centers optimized for artificial intelligence, positioning itself in the growing AI infrastructure market.
Applied Digital experienced a 30% stock price surge in October, primarily driven by short-covering and growing interest in its AI data center business. The company forecasts $1 billion in annual net operating income by 2028 and has strong demand for its AI-centric datacenters.
U.S. stock futures rose on Friday after Thursday's market decline, with corporate earnings providing mixed results. Key focus was on potential trade discussions between U.S. and China, and market expectations of potential Federal Reserve interest rate cuts.
Applied Digital received an initial $112.5 million funding from Macquarie Asset Management to support the construction of a 400MW AI data center campus in North Dakota, with plans to scale up to 1 gigawatt and lease capacity to CoreWeave.