Applied Digital

Applied Digital (APLD) stock surged 16% after exceeding first-quarter revenue estimates, driven by high demand for AI data centers. Revenue reached $64.2 million, an 84% increase year-over-year. The company is expanding infrastructure, including its partnership with CoreWeave, adding 150 MW of capacity. Applied Digital secured funding for a second North Dakota campus, aiming for 600 MW total leased capacity by 2027. While revenue increased, the company reported a net loss of $18.5 million.