Applied Digital Corp (APLD)

Applied Digital builds and operates next-generation data centers that cater to the power-dense requirements of artificial intelligence training, high-performance computing, and blockchain mining. Facility designs are purpose-engineered for GPU racks that consume significantly more electricity per cabinet than conventional enterprise servers, incorporating high-density power distribution, direct-to-chip liquid cooling, and redundant utility feeds. Site selection prioritizes access to low-cost, reliable power — often in regions with hydroelectric or renewable capacity — to keep energy costs competitive. The company serves hyperscale AI developers, cloud service partners, and infrastructure investors across the United States. Its portfolio approach to data center development targets multiple simultaneous projects at varying stages of construction and lease-up.