Core Insights - Applied Digital rebranded from Applied Blockchain to reflect its transition to an AI infrastructure provider in November 2022 [1] - The stock has increased by 1,720% over the last three years, with significant gains following a lease deal with CoreWeave, totaling $11 billion in anticipated revenue from two agreements [2] Stock Performance and Potential Actions - A stock split could be considered to enhance liquidity, but currently, there is no immediate benefit for Applied Digital to execute a split [5][7] - The stock is trading under $40, making it relatively affordable despite its substantial price increase [6] Industry Position and Growth - Applied Digital is well-positioned in the high-demand AI infrastructure market, with its Polaris Forge campuses benefiting from low energy costs and efficient cooling [8] - The company reported a 250% year-over-year revenue increase, supported by a significant backlog from deals with hyperscalers [9]