Applied Digital Corporation ($APLD) Stock Surges on $200M Offering and $7B AI Deal

Applied Digital Corporation's stock soared 8.54% to close at $13.86 on June 6, fueled by a $200 million equity offering and a landmark $7 billion AI infrastructure deal with CoreWeave. The agreements, spanning 15 years, solidify APLD's position in the high-growth AI data center sector.

Shares have skyrocketed 145% over the past month and 181.71% year-to-date, reflecting investor Optimism about the company's revenue potential. Analysts project 38.4% annual revenue growth for the next three years as demand for AI infrastructure accelerates across industries.

The broader tech rally found additional support from the May jobs report, which increased expectations for Federal Reserve rate cuts. Applied Digital's strategic positioning in AI infrastructure mirrors the cryptocurrency sector's growth trajectory, where blockchain innovations continue to attract institutional capital.