Applied Digital (APLD) Jumps to All-Time High on Data Center Kickoff

We recently published 10 Stocks Delivering Double-Digit Gains Effortlessly; 4 Hit Highs. Applied Digital Corp. (NASDAQ:APLD) was one of the best performers on Friday.

Applied Digital snapped a three-day losing streak on Friday, nearly hitting its all-time high, as investors repositioned portfolios after kicking off with the construction of its new 430-megawatt data center in Dallas, Texas.

At intra-day trading, the stock hit its highest price of $39—just $1.2 shy of its all-time high of $40.20—before trimming gains to end the day just up by 8.49 percent at $37.69 apiece.

In a statement on the same day, Applied Digital Corp. (NASDAQ:APLD) said that it has broken ground for Delta Forge 1, an AI factory campus that is capable of supporting 430 MW of total utility power and up to 300 MW of critical IT load.

The facility will feature two 150-MW facilities on a 500-acre land area.

Once fully operational, Applied Digital Corp. (NASDAQ:APLD) expects to generate more than 200 jobs, in addition to long-term contractors.

“Delta Forge 1 represents the next stage of Applied Digital’s growth, as we continue to deliver AI infrastructure through disciplined execution,” Applied Digital Corp. (NASDAQ:APLD) Chairman and CEO Wes Cummins said.

“AI Factories succeed or fail based on how effectively power, cooling and operations are integrated. We believe this campus will be built to scale alongside hyperscale demand while delivering operational certainty for customers and lasting value for the communities where we operate,” he added.

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Disclosure: None. This article is originally published at Insider Monkey.