Applied Digital Stock Rises Over 5% After Data Center Update
On October 2, Applied Digital (NASDAQ: APLD) saw its stock rise by over 5%, driven by news that a second phase of one of its data centers in North Dakota has reached ready-for-service status. The company announced the completion of an additional 150 megawatts of critical IT load at Polaris Forge 1, bringing total operational capacity to 250 megawatts and setting it on track for eventual full capacity of 400 megawatts. The update highlights Applied Digital's progress in transforming from a cryptocurrency miner into an AI infrastructure provider. CEO Wes Cummins emphasized the company’s ability to convert large-scale power resources into operational AI compute capabilities, which has positioned it ahead of many peers undergoing similar transitions.
Tickers: $APLD
Topics: AI infrastructure Applied Digital data center construction