Group 1 - Applied Digital Corporation (NASDAQ:APLD) has finalized a new lease agreement with CoreWeave for an additional 150MW of data center capacity at its Polaris Forge 1 Campus in Ellendale [1] - The new lease increases the total contracted lease revenue for the company to approximately $11 billion, which includes $7 billion from two earlier leases signed in May 2025 [2] - The Polaris Forge 1 Campus will now have a total IT capacity of 400MW across three long-term lease agreements with CoreWeave, with the additional 150MW expected to be ready for service by 2027 [2] Group 2 - Following the announcement, Robert Brown from Lake Street maintained a Buy rating on Applied Digital Corporation with a price target of $18, reflecting around 44% upside from current levels [3] - Applied Digital Corporation is recognized as a technology company that designs, develops, and operates next-generation digital infrastructure and cloud services across North America [3]
Lake Street Maintains a Buy on Applied Digital (APLD)