Applied Digital reports $258.7 million in Q4 revenue, beating estimates as AI infrastructure demand drives multibillion-dollar hyperscaler deals.
Applied Digital Corp (NASDAQ:APLD) posted fourth-quarter revenue of $258.7 million, a 407% year-over-year increase, fueled by rising demand for AI data centers. Adjusted earnings reached $0.04 per share, outperforming analyst expectations of a $0.22 loss.
The company secured $20 billion in newly contracted hyperscaler leases, including an $11 billion deal with CoreWeave for Polaris Forge 1 and a $5 billion lease for Polaris Forge 2. Adjusted EBITDA was $42.4 million, though GAAP net loss widened to $110.6 million due to a $127.8 million stock-based compensation charge.
Shares rose 3.4% in premarket trading as the company highlighted robust demand for high-power-density AI infrastructure, with CEO Wes Cummins calling the buildout a historic opportunity.