Applied Digital Corporation Common Stock
APLDApplied 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 positioned as a promising tech stock due to its strategic data center infrastructure for AI and cloud services, with significant growth potential driven by increasing power demands for data centers.
Applied Digital's subsidiary APLD ComputeCo LLC is pricing a $2.35 billion senior secured notes offering to fund data center construction in North Dakota and repay existing debt, with notes due in 2030 at a 9.250% interest rate.
Applied Digital signed a 15-year lease with a U.S. hyperscaler for its Polaris Forge 2 Campus in North Dakota, covering 200 MW of IT capacity for AI and high-performance computing, with potential expansion to 1 GW.
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.
