Why Applied Digital Stock Skyrocketed This Week

Core Insights - Applied Digital's stock experienced a significant increase of 16.5% over the week, despite a pullback due to negative macroeconomic news [1] - The surge in stock price was driven by better-than-expected fiscal Q4 results and a major contract announcement with CoreWeave [2][4] Financial Performance - For fiscal Q4, Applied Digital reported a non-GAAP loss of $0.03 per share, outperforming analyst expectations of a loss of $0.16 per share [4] - The company's sales for the quarter reached $38 million, exceeding analyst estimates by approximately $880,000, and reflecting a year-over-year increase of 41% [5] Strategic Partnerships - Applied Digital announced a significant contract with CoreWeave, which included a $7 billion agreement for 250 megawatts of data center capacity, with CoreWeave exercising an option for an additional 150 megawatts [6]