APLD Stock Soars Premarket After Q1 Sales Rise 4X: CEO Reveals Tier 1 Hyperscaler Building 1GW Data Center In North Dakota

• A Tier 1 hyperscaler is developing a roughly 1GW self-build data center in North Dakota, CEO Wes Cummins said.
• Applied Digital plans to bring more than 600MW online over the next 12 months and could reach 3.5GW to 4GW by 2030.
• To counter the component crunch, Applied Digital has purchased full factory capacity output from certain factories for up to four years.

Applied Digital Corp. (APLD) shares jumped nearly 5% in early premarket trading on Thursday after the AI data center operator reported fiscal first-quarter results that comfortably topped Wall Street expectations, with revenue surging more than fourfold year over year.

Revenue for the quarter ended August jumped 322% to $341.9 million from $80.9 million a year earlier, well above the $116.3 million analysts polled by FactSet expected. 

Adjusted net loss narrowed to $0.01 per diluted share from $0.03 a year earlier, also beating expectations for a $0.30 loss. However, some of the more interesting disclosures came during management's earnings call.

Tier 1 Hyperscaler Builds 1GW Data Center In North Dakota

CEO Wes Cummins said on the analyst call that Applied Digital is aware of a roughly 1-gigawatt self-build project being developed by a Tier 1 hyperscaler in the state, separate from the three customer projects Applied Digital already has there.

“We're aware of a self-build project, roughly 1 gigawatt self-build project from one of the Tier 1 hyperscalers in the state as well. And we've been – that is outside of the ones that we already have in the state,” Cummins said.  

Cummins added that Applied Digital is also in discussions with multiple hyperscaler customers for additional capacity in North Dakota, highlighting the state's growing importance as an AI data center hub.

Overall, the company expects to bring more than 600 MW online over the next 12 months and sees potential to reach 3.5 GW to 4 GW of operating capacity by the end of 2030, Cummins said.

Applied Digital Locks Up Factory Capacity

Applied Digital began locking in key components nearly two years ago. In some cases, it went much further by effectively reserving entire manufacturing outputs.

“In some of those instances, we actually purchased full factory capacity output from certain factories for, I believe, a 4-year time frame to make sure that we had those key components locked in,” Cummins said.

He said the company is now looking to increase those commitments as it anticipates stronger demand for components through 2027, 2028 and 2029.

Retail View On APLD 

APLD was the top trending stock on Stocktwits as of early Thursday, with retail sentiment shifting to 'extremely bullish' from 'bullish.'

“$APLD bought 1 million more today, and bot is set to buy all week. huge beats,” a trader said, while another wrote,“$APLD upgrades and gap up tomorrow.”

Applied Digital has lagged the broader AI infrastructure boom, with its shares down 3% year-to-date as of the last close.

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