Hyperscaler capex has ballooned to nearly $700 billion, up from roughly $400 billion just three months earlier, according to Applied Digital CEO Wes Cummins.

Applied Digital Corporation (APLD) stock price & volume — 10-year historical chart
Investment Thesis • Updated 2026Q3
the company's reliance on debt-funded growth and a persistent net loss of $99.3 million in 2026Q3 suggest significant long-term solvency risks that outweigh current revenue expansion.
Applied Digital Corporation (APLD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Applied Digital Corporation (APLD) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 8, 2026 | $0.36vs $0.10-260.0% | $127Mvs $76M+67.7% |
| Q1 2026 | Jan 7, 2026 | $0.11vs $0.09-22.2% | $127Mvs $85M+48.3% |
| Q4 2025 | Oct 9, 2025 | $0.11vs $0.13+14.7% | $64Mvs $50M+28.5% |
| Q3 2025 | Jul 30, 2025 | $0.12vs $0.12+0.0% | $38Mvs $36M+5.9% |
Recent stock market news and headlines for Applied Digital Corporation (APLD)
Hyperscaler capex has ballooned to nearly $700 billion, up from roughly $400 billion just three months earlier, according to Applied Digital CEO Wes Cummins.

DALLAS, July 01, 2026 (GLOBE NEWSWIRE) -- Applied Digital (NASDAQ: APLD), a designer, builder, and operator of high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads, today announced it has achieved Ready for Service for Phase 1 of Building 2 at Polaris Forge 1, delivering 75 MW of operational AI capacity to its customer on schedule and bringing total live capacity at the campus to 175 MW. The delivery marks the next major milestone in the continued buildout of Polaris Forge 1, Applied Digital's fully leased AI Factory Campus designed to support high-density artificial intelligence and high-performance computing workloads.

Coinbase (NASDAQ:COIN | COIN Price Prediction) Head of Institutional Strategy John D'Agostino used a recent CNBC Squawk Box appearance to push back on the wave of skepticism that has followed a brutal stretch for crypto prices.

At $45.20, Applied Digital (NASDAQ:APLD) looks fully valued.

Applied Digital Chairman and CEO Wes Cummins delivered a message on CNBC's Squawk on the Street about the AI data center buildout.

Key metrics vs top competitors for Applied Digital Corporation (APLD)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $30.71 | $8.78B | -26.47 | 57.74% | -107.22% | -60.92% | 0.04% | |
| $1.65 | $537.3M | -5.32 | -30.65% | -146.01% | -0.11% | — | |
| $20.47 | $8.31B | -9.52 | 48.04% | -512.96% | -115.53% | — | |
| $39.82 | $14.21B | 102.09 | 167.65% | 31.71% | 9.12% | — | |
| $21.54 | $6.85B | -24.48 | -37.53% | -342.93% | — | — | |
| $96.74 | $10.89B | -45.21 | -90.71% | — | -17.66% | — |
Applied Digital Corporation (APLD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Applied Digital Corporation (APLD) SEC filings — annual & quarterly reports (10-K, 10-Q)
Jun 16, 2026·SEC
Jun 9, 2026·SEC
Jun 9, 2026·SEC
Jul 30, 2025·SEC
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Applied Digital Corporation (APLD) stock FAQ — growth, dividends, profitability & financials explained
Applied Digital Corporation (APLD) reported $355.5M in revenue for fiscal year 2025. This represents a 72437% increase from $0.5M in 2002.
Applied Digital Corporation (APLD) grew revenue by 57.7% over the past year. This is strong growth.
Applied Digital Corporation (APLD) reported a net loss of $186.3M for fiscal year 2025.
Applied Digital Corporation (APLD) does not currently pay a meaningful dividend. The company may be reinvesting profits for growth.
Applied Digital Corporation (APLD) has a return on equity (ROE) of -60.9%. Negative ROE indicates the company is unprofitable.
Applied Digital Corporation (APLD) had negative free cash flow of $1.81B in fiscal year 2025, likely due to heavy capital investments.