Why Did Applied Digital Stock Soar 19% Today?

Applied Digital Corp. (APLD) was the top trending equity ticker on the Stocktwits platform on Monday afternoon, on momentum around the company’s prospects in the artificial intelligence (AI) infrastructure space.

In a letter to shareholders on September 12, Applied Digital chairman and CEO Wes Cummins revealed major advances in the company’s AI infrastructure business, highlighting a transition from crypto-focused data centers to “AI Factories” and laying out growth plans across North Dakota and beyond.

Cummins noted three 15-year leases with hyperscaler CoreWeave (CRWV) that together bring in about $11 billion in expected lease revenue for 400 megawatts (MW) capacity at the Polaris Forge 1 campus in Ellendale, North Dakota. 

Applied Digital stock traded over 19% higher on Monday afternoon. On Stocktwits, retail sentiment around the stock improved to ‘extremely bullish’ from ‘bullish’ territory the previous day amid ‘high’ message volume levels. 

Polaris Forge 1 is designed to eventually reach 1 gigawatt (GW) of capacity, according to the company. The first 100 MW facility is likely to begin operating in the fourth quarter (Q2) of 2025. An additional 150 MW capacity is currently under construction and is expected to be functional in mid‑2026. A third 150 MW facility is under planning and is scheduled to be ready for full service by mid‑2027.

Applied Digital has begun construction of a second AI factory, Polaris Forge 2, near Harwood, North Dakota. With a $3 billion investment, this campus will deliver 200 MW of critical IT load initially, with room to grow. The company aims to begin operations at the facility in 2026, with a target to reach full capacity by 2027. 

Cummins said the company is in advanced talks with an investment‑grade hyperscaler for the project. Stocktwits users expressed optimism about the new project. 

Applied Digital stock has gained 220% year-to-date and over 264% in the last 12 months. 

Also See: Why Did Super Micro Computer Stock Gain 5% Today?

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