Generative AI training infrastructure remains white hot as an investment. Numerous start-ups have appeared to address the need. Given the end-to-end solution Nvidia created that spans chip design, algorithms, and software, this AI infrastructure consisting of data centers filled with accelerated computing systems (primary using Nvidia technology) is arguably easier to build than "traditional" cloud computing infrastructure. That has been rocket fuel for these specialized data center builder-operators in the ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Applied Digital Corporation (APLD) is a designer, builder and operator of next-generation datacenters which provide power to blockchain infrastructure and support High-Performance Computing applications. The Zacks Consensus Estimate for its current year earnings has been revised almost 16.7% downward over the last 60 days.Matthews International (MATW) is a provider of memorialization products, industrial technologies, and brand soluti ...

Applied Digital Corporation (NASDAQ:APLD) Q2 2024 Earnings Call Transcript January 16, 2024 9:00 AM ET Company Participants Alex Kovtun - IR, Gateway Group Wes Cummins - Chairman and CEO David Rench - CFO Conference Call Participants Lucas Pipes - B. Riley Securities George Sutton - Craig-Hallum Capital Group Darren Aftahi - ROTH MKM Rob Brown - Lake Street Capital Markets John Todaro - Needham & Company Mike Grondahl - Northland Securities Kevin Dede - H.C. Wainwright Operator Good morning, and welcome to ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

DALLAS, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Applied Digital Corporation (NASDAQ:APLD) ("Applied Digital" or the "Company"), a designer, builder, and operator of next-generation digital infrastructure designed for High-Performance Computing ("HPC") applications, announced today it has signed a conditional agreement to provide datacenter capacity at its Ellendale, North Dakota campus, subject to finalization of definitive lease documents. The conditional agreement is for a total of 100MWs for a term of 10 years ...

- Generated Sequential Revenue Growth of 16% - - Anchor Tenant Update - DALLAS, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Applied Digital Corporation (NASDAQ:APLD) ("Applied Digital" or the "Company"), a designer, builder, and operator of next-generation digital infrastructure designed for High-Performance Computing ("HPC") applications, cloud services ("Cloud services"), and datacenter hosting ("Datacenter hosting"), reported financial results for the fiscal second quarter ended November 30, 2023. The Company also ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share APLD Nasdaq Global Select Market FORM 10-Q ________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXC ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ FORM 10-Q ________________________ (Mark One) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share APLD Nasdaq Global Select Market ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHA ...

Financial Data and Key Metrics - Revenue for Q1 2024 was $36.3 million, up from $6.9 million in Q1 2023, driven by increased hosting capacity and AI cloud service contracts [12] - Cost of revenue increased to $24.4 million from $6.1 million, primarily due to higher energy costs, depreciation, and personnel expenses [12] - Operating expenses rose to $17.1 million from $5 million, mainly due to increased headcount and depreciation [13] - Net loss for Q1 2024 was $9.6 million, or $0.10 per share, compared to a net loss of $4.7 million, or $0.05 per share, in Q1 2023 [13] - Adjusted EBITDA for Q1 2024 was $10 million, compared to an adjusted EBITDA loss of $1.9 million in Q1 2023 [14] - The company ended the quarter with $31.2 million in cash and $44 million in debt [15] Business Line Data and Key Metrics - Blockchain hosting operations: The 100-megawatt Jamestown facility operated at full capacity for the fourth consecutive quarter, and the 180-megawatt Ellendale facility became fully operational, bringing total hosting capacity to 280 megawatts [6][7] - AI cloud services: The company activated the first cluster of GPUs for Character.AI in July and received a second cluster in September, with additional GPUs expected in October [8] - The total annual contract value of AI cloud services contracts at full capacity is approximately $378 million [9] - The company has 300 megawatts of capacity in development for purpose-built HPC data centers, with initial groundwork underway for the Ellendale facility [11] Market Data and Key Metrics - The company expects its three sites to produce around $300 million in revenue and $100 million in EBITDA annually [7] - The Garden City, Texas facility is expected to be fully energized by October 23, bringing total hosting capacity to approximately 500 megawatts [7] Company Strategy and Industry Competition - The company is focused on providing digital infrastructure solutions for the high-performance computing industry, with a strong emphasis on AI cloud services and blockchain hosting [6][8] - Partnerships with leading OEMs like Super Micro, Hewlett Packard Enterprise, and Dell, along with NVIDIA's Elite Partner status, provide visibility into GPU delivery timelines [10] - The company is actively pursuing anchor tenants for its HPC data centers, aiming to secure credit-rated tenants to support construction and financing [11] Management Commentary on Operating Environment and Future Outlook - Management remains confident in the company's competitive advantages and differentiated capabilities to meet the demands of AI workloads and other HPC applications [17] - The company expects a steep revenue ramp in the AI cloud business, particularly in the last two quarters of the fiscal year, as GPU deliveries increase [36] - Management is optimistic about the future, with a strong pipeline of opportunities in the AI cloud service business and ongoing development of HPC data centers [17] Other Important Information - The company received $39.5 million in customer prepayments during Q1 2024, with an additional $15 million received post-quarter and $23 million expected this week [15][16] - The company reaffirmed its full-year fiscal 2024 guidance, expecting revenue in the range of $385 million to $405 million and adjusted EBITDA of $195 million to $205 million [16] Q&A Session Summary Question: Anchor Tenant Requirements for AI Business - The company needs to contract roughly 70% of the capacity on 7 to 10-year contracts to kick off construction, with plans to start with 100 megawatts in North Dakota, followed by 100 megawatts in Utah [20] Question: GPU Delivery Timeline - The company expects to receive large volumes of GPUs in November, December, and January, with deliveries ramping up significantly during these months [22] Question: Garden City Facility Energization - The Garden City facility is expected to start energizing on October 23, with a faster ramp-up compared to previous facilities due to completed construction and ready-to-use miners [25] Question: AI Cloud Service Capacity and Contracts - The company has some additional capacity for AI cloud services but will need to bring its own facilities online to support further growth [30] - The company increased its GPU order from 26,000 to 34,000 due to strong demand, with the additional 8,000 GPUs expected to be deployed post-April 2024 [33] Question: Capital Intensity and Financing for HPC Data Centers - The company redesigned its data centers to increase density, with construction costs now estimated at $6 million per megawatt [39] - The company is exploring various financing options, including construction financing and equity financing at the site level [39] Question: GPU Delivery Cadence - The company received its second cluster of 1,024 GPUs in September and expects deliveries to double in October, with significant increases in November, December, and January [44] Question: Anchor Tenant Demand and Data Center Financing - The company is in advanced discussions with several potential anchor tenants and expects to finalize agreements in the coming weeks [47] Question: AI Cloud vs. AI Hosting Strategy - The company is pursuing both AI cloud services and AI hosting, with anchor tenants expected to bring their own equipment for hosting, while the company retains 30% of capacity for its own cloud services [57] Question: Data Center Redesign and Heat Management - The new data center design focuses on density and liquid cooling, with the ability to support up to 150 kW per rack [64]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended May 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from and Commission file number 001-31968 APPLIED DIGITAL CORPORATION (Exact name of registrant as specified in its charter) Nevada (State or other jurisdiction of incorpora ...