Applied Digital (APLD) Soars 31% on Expanded Multi-Billion Contract with CoreWeave

We recently published 10 Stocks Crushing With Whopping Double-Digit Gains. Applied Digital Corp. (NASDAQ:APLD) is one of the best-performing stocks on Thursday.

Applied Digital snapped a four-day losing streak on Thursday, jumping 31.01 percent to close at $13.14 apiece as investors took heart from its expanded lease agreement with an AI hyperscaler that could result in some $11 billion in revenues.

In a statement, Applied Digital Corp. (NASDAQ:APLD) announced that CoreWeave Inc. (NASDAQ:CRWV) exercised its lease option for an additional 150 MW of critical IT load on top of the 250 MW signed earlier, bringing the total capacity to 400 MW.

The new load would effectively raise Applied Digital Corp.’s (NASDAQ:APLD) revenues by another $4 billion to a total of $11 billion from the said contract alone.

According to the company, 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.

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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