APLD Applied Digital Corporation
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Daily prices, adjusted for splits. P/E and P/S value each day on the results published by then; a gap in P/E means the trailing year had no profit.
Information Technology Services · Dallas, TX · 256 employees · applieddigital.com
Applied Digital Corporation develops and runs digital infrastructure for artificial intelligence and high-performance computing clients across North America. The firm generates revenue by hosting data centers, offering energized infrastructure for cryptocurrency mining, and providing cloud computing capacity to machine learning developers.
Bull case
The business benefits from being a supplier of the infrastructure that artificial intelligence workloads consume as part of the broader capital expenditure cycle in the sector. It has also seen an acceleration in annual revenue growth, though similar gains are common across tracked peers.
- Annual revenue growth rose from -22% to +448%.
Bear case
The company burns substantial amounts of cash even after accounting for equity-based compensation and relies on a brief cash runway. Its heavy reliance on stock pay and dependence on the continuous build-out of artificial intelligence infrastructure present meaningful risks.
- Burns cash after stock pay (-584% of revenue).
- Its cash covers about 2.6 quarters of its current cash burn.
- Stock pay equals 33% of revenue.
- The share price trend is still falling.
Features
- V-ACCELERATING Growth accelerating Annual revenue growth rose from -22% to +448%. Shared by most companies we track
- H-RUNWAY Short cash runway Its cash covers about 2.6 quarters of its current cash burn.
- G-AGENCY Heavy stock pay Stock pay equals 33% of revenue.
- F-UPSIDE Analyst upside Analysts' average target is 171% above the price.
AI impact
Supplies what AI runs on Tailwind
Applied Digital designs and operates purpose-built data centers to host artificial intelligence and high-performance computing workloads. The business benefits from growing demand for specialized, high-density computing capacity, but it faces risks if technological advancements or increased model efficiency reduce the computing power and facilities its customers require.
Where AI helps it
- Sells what AI workloads consume
Where AI could hurt it
- Depends on the AI build-out continuing
In the company's words
We are a U.S.-based designer, developer, owner, and operator of large-scale, purpose-built data centers engineered to support high-performance computing (“HPC”) workloads, including artificial intelligence (“AI”), machine learning, and other accelerated-compute applications.
Further, the development of new technologies, the adoption of new industry standards or other factors could render our AI factory customers’ current products and services obsolete or unmarketable and contribute to a downturn in their businesses, thereby increasing the likelihood that they default…
Assessed by AI from the company's own annual report filed 29 Jul 2026 and quarterly report filed 7 Oct 2026. A reading of the business, not a forecast or a recommendation.
Valuation position
APLD is at the 57th percentile of its own valuation history. This is a relative measurement, not a price target or recommendation, and it assumes the business is still the one its history describes.
Price ladder
The measured price sits in the Above reference zone. These are reference zones, not buy instructions or forecasts that the prices will be reached.
This ladder rests on the company's own valuation history alone: there are too few comparable companies to cross-check it, so treat its zones as less certain.
Quality versus peers
Each dimension is shown on its own; they are not combined into a score.
Current analyst snapshot
Shown for reference only; not used in any measurement.
What would have to break
- Not triggered — Revenue decline
- Not triggered — Margin break
- Not available — Cash burn with rising debt
- Not triggered — Heavy dilution
- Not triggered — Warning language in filings
News
No recent brief on this company.