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Applied Digital stock rose nearly 5% after revenue surged 322% to $341.9 million. The AI data center operator plans to bring more than 600 MW online within 12 months and targets up to 4 GW of capacity by 2030.
Applied Digital just secured its first international power deal, yet the stock is selling off alongside two rivals that have no earnings due today, raising questions about what is really driving the developer group lower.
The target implies about 152% upside as Applied Digital targets more than 600 MW of capacity deliveries over the next 12 months.