Core Insights - Applied Digital Corporation (NASDAQ:APLD) is recognized as one of the most shorted stocks to buy, with a Market Outperform rating and a price target of $40 set by Citizens [1] - The company has a significant 4.3GW active development pipeline, positioning it as a key supplier of HPC/AI infrastructure in North America, with potential shareholder value increase estimated at $124 per share [2] Company Overview - Applied Digital Corporation specializes in designing, developing, and operating advanced digital infrastructure across North America, providing solutions for blockchain mining and GPU computing for AI and HPC workloads [3] Infrastructure Development - The North Ellen (Polaris Forge 1) facility has a total capacity of 400 MW, fully contracted to CoreWeave, with phased operational milestones: 100 MW operational since November 2025, 150 MW expected by mid-2026, and the final 150 MW projected for 2027 [1]