Applied Digital Corporation

Applied Digital Corporation (Nasdaq: APLD) designs, develops, owns, and operates large-scale, purpose-built data centers engineered to support high-performance computing (HPC) workloads, including artificial intelligence, machine learning, and other accelerated-compute applications. The company operates through two core segments: HPC Hosting, which designs, builds, and operates AI Factory data centers leased to hyperscale customers including CoreWeave and tier-one investment-grade hyperscalers under long-term contracts; and Data Center Hosting, which provides energized space to crypto mining customers. As of August 31, 2026, the company has approximately 1.41 GW of leased critical IT load across five campuses — Polaris Forge 1, 2, and 3 in North Dakota, Delta Forge 1 in Louisiana, and Delta Forge 2 in Alabama — representing approximately $36 billion of contracted revenue over initial base terms. Applied Digital also holds an approximately 96% ownership stake in ChronoScale Holdings Corporation (Nasdaq: CHRN), a publicly traded accelerated-compute platform, and an approximately 10% equity interest in Base Electron Corp., an independent power producer developing front-of-the-meter generation capacity in the Dakotas. The company combines hyperscale expertise, closed-loop cooling, and rapid deployment capabilities to deliver secure, scalable compute infrastructure. Updated Oct 7, 2026