Applied Digital (APLD) Jumps 11.4% on Strong Optimism for Expanded CoreWeave Dea
We recently published 10 Stocks Surprise With Double-Digit Gains; 4 Hit Record Highs. Applied Digital Corp. (NASDAQ:APLD) is one of the companies that stood stronger last week.
Applied Digital rebounded by 11.42 percent on Monday to close at $13.95 apiece, tracking an overall market optimism, supported by news of a billion-dollar revenue opportunity from its expanded collaboration with AI infrastructure giant CoreWeave Inc. (NASDAQ:CRWV).
Alongside its earnings release last week, Applied Digital Corp. (NASDAQ:APLD) announced that CoreWeave Inc. (NASDAQ:CRWV) exercised an option to add 150 MW of critical IT load capacity from the former, on top of the 250 MW signed earlier, effectively bringing the total capacity to 400 MW.
Applied Digital Corp. (NASDAQ:APLD) expects the expanded contract to rake in another $4 billion in revenues for a total of $11 billion.
The first 100 MW facility is scheduled to be operational in the fourth quarter of the year, to be followed by a 150 MW capacity in the middle of next year, and the third 150 MW in 2027.
Copyright: hywards / 123RF Stock Photo
Meanwhile, Applied Digital Corp. (NASDAQ:APLD) narrowed its net loss attributable to shareholders in the fourth quarter ending May 2025 by 16 percent to $53.9 million from $64.7 million in the same period last year. Total revenues increased by 41 percent to $38 million from $26.9 million year-on-year.
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