Applied Digital Stock Soars 38% on $7B CoreWeave AI Deal

• Applied Digital Corp. (APLD) stock rose nearly 38% to $9.38 after securing two 15-year lease agreements with CoreWeave (CRWV) to provide 250 megawatts of IT load for AI and HPC infrastructure at its Ellendale, North Dakota data center.
• The leases are projected to generate approximately $7 billion in revenue over their term, reinforcing Applied Digital’s role in supporting the growing demand for AI-driven computing infrastructure.

Applied Digital Corp. (APLD) has seen its stock surge nearly 38% to $9.38 in early trading, driven by the announcement of two significant lease agreements with CoreWeave (CRWV), a leader in artificial intelligence and high-performance computing infrastructure. These approximately 15-year contracts will see Applied Digital provide 250 megawatts of critical IT load to support CoreWeave’s AI and HPC operations at its Ellendale, North Dakota data center campus. The deals are expected to generate approximately $7 billion in revenue over their term, underscoring the growing demand for robust digital infrastructure to power advanced computing applications. Applied Digital’s expertise in building and operating next-generation data centers positions it as a key player in the rapidly expanding AI and HPC markets, where scalable, high-capacity infrastructure is critical.

The partnership with CoreWeave, a company known for its cutting-edge work in AI, highlights the increasing convergence of data center capabilities and specialized computing needs, with Applied Digital capitalizing on this trend to deliver substantial long-term value. This development reflects broader industry shifts toward AI-driven innovation, where companies like Applied Digital are pivotal in enabling the infrastructure backbone for transformative technologies.

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