Financial Data and Key Metrics Changes - Revenues for the fiscal second quarter of 2026 were $126.6 million, up 250% from $36.2 million in the prior year [12] - Adjusted EBITDA for the quarter totaled $20.2 million [15] - Net loss was $31.2 million, or $0.11 per share, while adjusted net income was positive $100,000 or $0 per share [15] Business Line Data and Key Metrics Changes - The data center hosting segment generated $41.6 million of revenue, up 15% compared to the prior year, driven by increased capacity online [13] - Turnkey fit-out services associated with the HPC hosting business contributed $73 million to revenue [12] Market Data and Key Metrics Changes - The company has secured two hyperscale leases in North Dakota, representing 600 MW of lease capacity and approximately $16 billion in prospective lease revenue [6] - Inbound demand has increased significantly, with advanced discussions ongoing with another investment-grade hyperscaler across multiple regions [6] Company Strategy and Development Direction - The company aims to surpass its long-term goal of $1 billion in NOI within five years, leveraging low-cost energy and a supportive regulatory environment in the Dakotas [17] - A non-binding letter of intent has been entered to combine Applied Digital Cloud with Exo to form Chronoscale, allowing each to scale independently [20] Management's Comments on Operating Environment and Future Outlook - Management noted that the contracting environment has become more favorable over the past six months, with stable to slightly better pricing and improved contract terms [31] - The company is focused on scaling construction across multiple sites and ensuring timely delivery to customers [49] Other Important Information - The company ended the second fiscal quarter with $2.3 billion in cash and cash equivalents, compared to $2.6 billion in debt [15] - The company is exploring ways to add power to the grid without increasing costs to customers, reinforcing its leadership in data center design [18] Q&A Session Summary Question: Growth appetite in the cloud business and future GPU purchases - Management highlighted the advantage of having access to large-scale data center facilities for deploying accelerated compute, which will benefit the cloud business as it spins out [22][23] Question: Landscape for leases and pricing changes - Management indicated that pricing has been stable to slightly better, with more favorable terms in contracts [30][31] Question: Advanced discussions on new sites - Management confirmed advanced discussions on three sites totaling 900 MW [46][47] Question: Expansion opportunities at PF1 and PF2 - Management stated that each campus has the potential to scale to at least a gigawatt, with a clear path to grow capacity to 5 GW by 2030 or 2031 [72][75]

Core Insights - Applied Digital Corporation reported a significant increase in revenue for the fiscal second quarter 2026, reaching $126.6 million, which is a 250% increase compared to the same period last year [5][23] - The company achieved a net loss of $31.2 million, a reduction of 76% from the previous year, with net loss per share decreasing to $0.11 from $0.61 [5][30] - Adjusted EBITDA for the quarter was $20.2 million, compared to $6.1 million in the same quarter of the previous year, indicating improved operational efficiency [5][31] Financial Performance - Total revenues for the fiscal second quarter 2026 were $126.6 million, up from $36.2 million in the prior year [23] - Cost of revenues increased to $100.6 million, a 344% rise from $22.7 million, primarily due to tenant fit-out services for the HPC Hosting Business [24] - Selling, general and administrative expenses rose to $57.0 million, a 119% increase from $26.0 million, driven by business growth and stock-based compensation [26] Operational Updates - The company signed leases with two hyperscalers for a total of 600 MW of capacity, representing approximately $16 billion in prospective lease revenue [5][7] - Polaris Forge 1 reached Ready-for-Service, delivering 100 MW on schedule, marking a significant milestone in the 400 MW AI Factory buildout [6][8] - A 15-year lease was announced with a U.S. based investment-grade hyperscaler for 200 MW at the under-construction Polaris Forge 2 campus, expected to generate approximately $5 billion in revenue [6][7] Strategic Initiatives - The company completed a $2.35 billion private offering of senior secured notes to fund construction and repay existing loans [6][11] - Applied Digital is investing in advanced cooling technology through a $25 million funding round for Corintis, enhancing its data center capabilities [6][13] - Plans to spin out Applied Digital Cloud and merge it with EKSO Bionics to form ChronoScale, aiming to create a dedicated accelerated-compute platform for GPU-optimized AI infrastructure [6][21] Market Position and Future Outlook - The company is well-positioned in the AI infrastructure market, with hyperscaler capital expenditures exceeding $400 billion annually [15] - Management anticipates exceeding a $1 billion NOI target within the next five years due to strong demand and additional lease expectations [15] - The Dakotas region is highlighted as a compelling area for hyperscalers due to its climate and energy resources, contributing to increased demand for the company's services [9]

Applied Digital Corp. (NASDAQ:APLD) is scheduled to report its fiscal second-quarter 2026 financial results on Wednesday after the closing bell. Here's a look at what investors will be watching in the report and commentary from executives. APLD stock is climbing. See the chart and price action here. Key Estimates & FinancialsWall Street is looking for significant top-line growth as Dallas-based Applied Digital begins to recognize more revenue from its AI-focused data centers and tenant fit-out services.Anal ...

Core Viewpoint - A class action lawsuit has been filed against Fermi Inc. by Berger Montague on behalf of investors who acquired Fermi securities during the Class Period from October 1, 2025, to December 11, 2025, including its IPO on October 1, 2025 [1][2] Company Overview - Fermi Inc., based in Amarillo, Texas, aims to develop a network of large, grid-independent data centers powered by nuclear, natural gas, solar, and battery energy [3] Project Details - Fermi's flagship initiative, "Project Matador," is designed to create the world's largest private energy campus, providing dedicated power for AI data centers [3] Allegations in Lawsuit - The lawsuit claims that during the Class Period, Fermi misled investors about tenant demand for Project Matador and the project's funding status [4] - It is alleged that Fermi did not disclose that the construction financing for Project Matador was heavily reliant on a single tenant's funding commitment, which posed a significant risk of termination [4] Impact of Tenant Termination - On December 12, 2025, Fermi announced that the first tenant for Project Matador had terminated a $150 million Advance in Aid of Construction Agreement, leading to a nearly 34% drop in Fermi's share price, closing at $10.09 per share [5]

Core Viewpoint - KKR & Co. Inc. is facing downward pressure on its stock price despite announcing a significant investment in Global Technical Realty, indicating potential market concerns about the company's financial strategies and performance [1][2]. Investment Details - KKR disclosed an additional $1.5 billion equity investment in Global Technical Realty (GTR), a European data center platform, with Oak Hill Capital committing approximately $400 million as a new investor [1]. - The investment is primarily financed through KKR's Global Infrastructure Strategy, which has allocated around $34 billion in digital infrastructure across 24 investments and over $20 billion in power and renewables [2]. Portfolio and Market Expansion - KKR's portfolio includes five data center platforms across the U.S., APAC, and EMEA, with a development pipeline of 12 GW, 12 fiber platforms serving nearly 30 million homes, and over 130,000 wireless sites across Europe and APAC [3]. - The new investments will support GTR's expanding development pipeline, focusing on new greenfield projects and market expansion in Europe, driven by increasing demand for AI-ready, high-density data center and cloud infrastructure [3]. Recent Acquisitions - KKR completed a major real estate acquisition in South Korea, acquiring the Cheongna Logistics Center in Incheon, and announced a $220 million growth investment in Premialab, a provider of data, analytics, and risk management solutions for quantitative investing [4]. Stock Performance - KKR shares are currently down 1.99%, trading at $133.09 at the time of publication [4].

Group 1 - The discussion among investors indicates a mixed sentiment regarding the potential formation of an AI stock bubble, yet many remain optimistic about the industry's future [1][2] - Applied Digital (NASDAQ: APLD), a developer of data centers for AI computing workloads, has seen a significant increase in demand for its stock, with shares rising over 208% in the past year and 1,430% over the past three years [3][5] - The company's data centers are critical for AI computing, providing high-performance computing infrastructure that supports hyperscalers, which are essential for AI applications [7] Group 2 - Applied Digital has secured a lease agreement with CoreWeave for its Polaris Forge 1 campus, providing 400 megawatts of data center infrastructure, with expected lease revenue of approximately $11 billion [8] - The company is also in advanced negotiations with another investment-grade hyperscaler for multiple campuses, indicating ongoing growth and expansion opportunities [9]

New Region 14 Education Service Center Partnership Advances AI Infrastructure for Education and Community Growth in West TexasJACKSONVILLE, Fla., and ABILENE, Texas, Jan. 07, 2026 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT), through its operating subsidiary Duos Edge AI, Inc. (“Duos Edge AI”), a provider of adaptive, modular, and scalable Edge Data Center (“EDC”) solutions, today announced the deployment of a new EDC in Abilene, Texas, in collaboration with Reg ...

Total Assets of Approximately $369 Million  LAS VEGAS, Jan. 7, 2026 /PRNewswire/ -- Hyperscale Data, Inc. (NYSE American: GPUS), an artificial intelligence ("AI") data center company anchored by Bitcoin ("Hyperscale Data" or the "Company"), today announced that, as of December 31, 2025, its estimated total assets of approximately $369 million equated to approximately $1.14 per share of Class A common stock (the "Common Stock"), and its estimated net assets of approximately $168 million equated to approxima ...

Core Viewpoint - Vertiv has significantly outperformed the S&P 500 over the past five years, but smaller AI stocks like Iren may present better investment opportunities due to their higher growth potential [1][2]. Company Performance - Vertiv's stock has increased by 39% over the past year and over 550% in the last five years, driven by investor interest in its liquid cooling solutions for data centers [1]. - In Q3, Vertiv reported a year-over-year revenue growth of 29%, but guidance for Q4 suggests a slowdown with expected growth of 18% to 22% [6]. Comparison with Iren - Iren's stock price has more than quadrupled in the past year, indicating a strong growth trajectory, and it has a market cap of $12 billion compared to Vertiv's $67 billion [2][7]. - Iren is projected to generate $20 billion in annual recurring revenue within five to ten years, supported by a significant deal with Microsoft worth $9.7 billion [3][4]. Revenue Projections - Iren aims for $3.4 billion in annual recurring revenue by the end of 2026, up from $3.1 million in fiscal 2024 and $16.4 million in fiscal 2025 [4]. - Management has indicated expectations of reaching $200 million to $250 million in annual recurring revenue by December 2025, suggesting potential to exceed the $3.4 billion target [5]. Market Dynamics - The smaller market cap of Iren allows for potentially greater stock price movements, which could benefit investors seeking faster growth compared to Vertiv [7].

ASX tech was one of 2025’s worst places to hide. The question for 2026: is this a blip, or the start of a longer reset?WiseTech, Xero and NextDC didn’t lose their moats overnight. Leverage, pricing changes and “swing for the fences” M&A forced the market to reprice risk.For every news headline about AI bubbles and the Magnificent Seven taking over the S&P 500, ironically, the ASX technology index was punished. With a 21% drop in the Technology index, it was one of the worst places to hide on the ASX in 2025 ...