Applied Digital (US:APLD) 智通财经网·2025-10-09 23:18Core Insights - Applied Digital (APLD.US) reported first-quarter revenue exceeding Wall Street expectations, showcasing strong growth despite a net loss, driven by surging demand for data center services to support rapidly growing generative AI applications [1][3] - The company's stock surged over 12% in after-hours trading following the earnings report [1] Financial Performance - For the quarter ending August 31, revenue increased by 84% year-over-year to $64.2 million, surpassing analyst expectations of $50 million [1] - Adjusted loss per share was $0.03, better than the anticipated loss of $0.13 [1] - The data center hosting segment generated $37.9 million in revenue, while total revenue costs rose by 144% to $55.6 million, with approximately $25 million attributed to high-performance computing hosting facility construction and client preparation [1] Business Transformation and Market Position - Applied Digital has successfully transitioned from cryptocurrency mining to becoming a key player in AI infrastructure, designing and operating specialized data centers for AI and blockchain applications [3] - The demand for high-performance data center infrastructure is driven by companies competing to deploy next-generation AI models [3] Strategic Partnerships and Future Outlook - In August, Applied Digital signed a new lease agreement with CoreWeave (CRWV.US) to add 150 MW of power capacity to its North Dakota data center, with total contracted lease revenue expected to reach approximately $11 billion [3] - Roth Capital anticipates that Applied Digital will secure another high-performance computing hosting agreement by year-end, with expectations for more large hosting contracts in the future [3] Leadership Perspective - The CEO of Applied Digital emphasized that the new lease validates the company's platform strength and execution capabilities, positioning it as a trusted strategic partner for top global tech firms [4] - The company is poised to become an indispensable infrastructure provider in the AI era, similar to the role of "pickaxes and shovels" during the gold rush [4] Expansion Potential - The Polaris Forge 1 facility has significant expansion potential, with expectations to exceed 1 GW of total capacity between 2028 and 2030 [5] - As of the end of the quarter, the company held approximately $114.1 million in cash and cash equivalents, with total debt at $687.3 million [5] - Applied Digital aims to focus on acquiring capital at the lowest cost and establishing a replicable financing structure to support large-scale business expansion across the U.S. [5]