Overview
- APLD fell more than 17% intraday before closing down 12.35% at $24.42, drawing heavy trading and broad financial media attention.
- Market reports said the move lacked a company-specific catalyst, pointing instead to investors taking gains and rethinking pricing for AI infrastructure plays.
- Applied Digital has shifted from crypto hosting to building high-density, liquid-cooled data centers tailored for AI training and inference.
- The company cites roughly $16 billion in contracted backlog, including a 15-year, $11 billion CoreWeave lease and a separate 200‑MW, 15-year lease estimated at about $5 billion.
- Recent reports highlight rapid sequential revenue acceleration and a forecast for fiscal 2026 revenue growth of 37.9% to $297.3 million, even as investors flag debt and execution risks and analysts stay positive on the long-term outlook.