Applied Digital (APLD) Stock Surges 28% on Strong Q1 Results and $11 Billion CoreWeave Deal

Applied Digital (APLD) shares skyrocketed 28% following the company’s impressive Q1 results and a significant $11 billion deal with CoreWeave for data center leases. The company’s stock price jumped to $37.45 in premarket trading, reflecting investor confidence in Applied Digital’s growth potential.

Q1 Results

Applied Digital reported Q1 revenue of $64.2 million, exceeding analyst estimates of $50 million. This represents an 84% year-over-year increase, demonstrating the company’s rapid growth. The adjusted loss per share was $0.03, better than expected, and the company achieved an adjusted EBITDA of $537,000.

CoreWeave Deal

The $11 billion deal with CoreWeave is a significant milestone for Applied Digital. The company has secured a 15-year lease agreement for 400 MW of IT load, with the latest 150-megawatt lease expansion contributing to the substantial revenue potential. This deal underscores the growing demand for data center infrastructure and Applied Digital’s strategic position in the market.

Expansion Plans

Applied Digital has broken ground on Polaris Forge 2, a new data center project that will expand capacity in 2026-2027. The company is targeting $1 billion in net operating income within five years, driven by its growing presence in the AI infrastructure market.

Analyst Confidence

Analysts have raised their price targets for Applied Digital, reflecting their confidence in the company’s growth prospects. With a strong track record of delivering results and expanding its data center capacity, Applied Digital is well-positioned to capitalize on the increasing demand for AI infrastructure.

Market Outlook

The data center industry is experiencing rapid growth, driven by the increasing adoption of AI and cloud computing. Applied Digital’s strategic partnerships and expansion plans position the company for long-term success in this market.

Conclusion

Applied Digital’s strong Q1 results and significant deal with CoreWeave have boosted investor confidence, driving the stock price up 28%. With its expanding data center capacity and growing presence in the AI infrastructure market, Applied Digital is poised for continued growth and success. As the company continues to execute on its strategy, investors will be watching closely for future developments.

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