Applied Digital (APLD) Pushes AI Expansion and Separates Cloud Unit

Core Insights - Applied Digital Corporation (NASDAQ: APLD) is recognized as one of the best AI stocks to buy under $50, focusing on next-generation digital infrastructure for HPC and AI workloads [1] - The company has entered into a loan facility with Macquarie Group to fund pre-lease development costs for new data center projects [1][2] - APLD is in advanced negotiations with an investment-grade hyperscaler for multiple campuses and plans to draw an initial $100 million from the loan facility [2] - The financing is aimed at supporting the development of purpose-built campuses for hyperscale customers as demand for AI-optimized data center infrastructure grows [3] - APLD plans to spin off Applied Digital Cloud through a merger with EKSO Bionics Holdings Inc., creating a new company called ChronoScale focused on AI workloads [4] - Analysts have a consensus Buy rating on APLD, with an average price target of $40.50, indicating a potential upside of 68.40%, and a Street-high target of $56, suggesting an upside of 132.85% [5]