Applied Digital Corporation
- Indústria
- AI Data Center Infrastructure
- Bolsa
- EUA
- País / Região
- USA
- Data do IPO
- 22 de julho de 2002
- Funcionários
- 205
Faixa de valuation composta · conservador $22–$30 / justo $31–$42 / otimista $43–$58. A $26.38, Dentro da faixa de valor intrínseco conservador · margem de segurança significativa.
Na publicação $36.62 (20 de maio de 2026)
Dados da EODHD, apresentados na moeda de reporte; apenas para referência, não constitui recomendação de investimento.
Applied Digital Corporation designs, develops, and operates digital infrastructure solutions to high-performance computing (HPC) and artificial intelligence industries in North America. It operates through: Data Center Hosting Business, and HPC Hosting Business. The company offers infrastructure services to crypto mining customers; and GPU computing solutions for critical workloads related to AI, machine learning, and other HPC tasks. It also engages in the designing, constructing, and managing of data centers to support HPC applications. The company was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Applied Digital Corporation has an lease agreement with CoreWeave for an additional 150MW at its Polaris Forge 1 Campus in Ellendale, North Dakota. Applied Digital Corporation is based in Dallas, Texas.
História
Applied Digital Corporation, based in Dallas, Texas, was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Since its 2002 IPO, and particularly across 2023 to 2026, the business shifted rapidly from blockchain hosting and cloud GPU services toward AI data center park development. By FY2026 Q3 it reported three segments, Data Center Hosting, Cloud Services, and HPC Hosting, with nine-month revenues to February 28, 2026 of roughly $117.1 million, $53.2 million, and $182.3 million respectively, HPC Hosting having become the largest revenue source. In May 2026 the company completed the spin-off of its cloud business into the separately listed ChronoScale (CHRN), in which it retained an approximately 97% stake. Its contract backlog scaled in parallel: FY2025 Q4 disclosed two roughly 15-year Polaris Forge 1 leases with CoreWeave covering about 250MW (~$7 billion), later expanded with a 150MW option to about 400MW (~$11 billion); October 2025 added Polaris Forge 2 at 200MW (~$5 billion); and April 2026 added Delta Forge 1 at 300MW (~$7.5 billion), bringing total contracted lease revenue to over $23 billion. Reported revenue grew from $55.4 million in FY2023 to $165.6 million in FY2024 and $352.6 million for the FY2026 Q3 nine months, while weighted-average shares outstanding rose from 94.0 million in FY2023 to 271.7 million by the FY2026 Q3 nine-month period. The company had 205 employees.
Posição no setor
Applied Digital designs, develops, and operates digital infrastructure for the high-performance computing (HPC) and artificial intelligence industries in North America, positioned as an AI data center developer and operator rather than a cloud services provider. Its closest mature comparable peers are Digital Realty and Equinix, while companies such as Core Scientific share a more similar risk profile; relative to the established platforms, it is a newer entrant rather than a stabilized leasing operator. Its differentiation rests on power and land acquisition, permitting, construction management, and customer relationships, which function as project-level barriers, alongside site selection, water and waterless cooling designs, and a "Different by Design" model. By April 2026 management described 1GW of critical IT load under construction, of which 900MW was under signed long-term contracts. Customer concentration is high: in FY2025 a single customer ("Customer A") accounted for 93% of revenue, up from 75% in FY2024. CEO Wes Cummins held about 21.876 million shares, roughly 7.5% of the company as of September 2025. The company also has a lease with CoreWeave for an additional 150MW at its Polaris Forge 1 Campus in Ellendale, North Dakota, and brought in Macquarie Asset Management for up to $5 billion at the HPC asset level.
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