Applied Digital Corp.
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- Applied Digital Corporation (Nasdaq: APLD) designs, builds, and operates next-generation digital infrastructure solutions, including purpose-built data centers and cloud services, for high-performance computing (HPC) and artificial intelligence (AI) industries primarily in North America. The company operates through three segments: Data Center Hosting, providing colocation and infrastructure services to cryptocurrency mining customers; Cloud Services, offering GPU-as-a-Service solutions such as Applied Digital Cloud for AI, machine learning, rendering, and other demanding workloads; and HPC Hosting, delivering GPU computing for critical AI and HPC tasks; it also designs, constructs, and manages data centers optimized for accelerated computing with proprietary waterless cooling, redundant systems, and scalable resources. Founded in 2021 and headquartered in Dallas, Texas, Applied Digital targets hyperscale AI clients, blockchain operators, and enterprises requiring secure, energy-efficient compute capacity, with facilities strategically located for low-cost power including its Polaris Forge AI Factory campus in Ellendale, North Dakota. In October 2025, the company executed the first funding milestone under a $5.0 billion perpetual preferred equity partnership with Macquarie Asset Management to support development of its 400MW Polaris Forge 1 campus, leased to CoreWeave, substantially reducing equity needs for future projects; it maintains a lease with CoreWeave for an additional 150MW at the site and previously secured $160 million in strategic financing in 2024 to fuel AI infrastructure expansion. Formerly known as Applied Blockchain, Inc., the company rebranded in November 2022 to reflect its strategic shift from crypto mining toward broader HPC and AI applications.
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