Applied Digital Stock Surges 16.5% on Strong Fiscal Q4 Results and CoreWeave Contract

Applied Digital's stock soared this week, closing 16.5% higher despite a Friday pullback triggered by bearish macroeconomic sentiment. The rally was fueled by the company's fiscal Q4 earnings report, which surpassed Wall Street expectations with an adjusted loss of $0.03 per share—far narrower than the projected $0.16 loss. Revenue climbed 41% year-over-year to $38 million, edging out analyst estimates by $880,000.

The data center specialist's momentum intensified with the announcement of a major contract with CoreWeave, though details remain undisclosed. Market participants interpreted the partnership as a validation of Applied Digital's infrastructure capabilities, driving bullish sentiment. The stock's performance underscores how crypto-adjacent tech firms can capitalize on strategic alliances even amid broader market volatility.