Applied Digital (NASDAQ:APLD) saw its stock close at $37.69, up 8.49%, after announcing the construction of a new “AI Factory.” Trading volume was 52% above average at 47.5 million shares. The S&P 500 and Nasdaq barely moved today, with the S&P up 0.03% and the Nasdaq up 0.28%. Industry peers Core Scientific (NASDAQ:CORZ) and Digital Realty Trust (NYSE:DLR) also saw gains. Applied Digital’s stock has grown over 700% since its 2022 IPO and surged 300% last year. The company recently broke ground on a 430MW AI factory due to start operations in mid-2027.

Investors are closely watching Applied Digital’s continued growth, with the stock jumping 8.49% following news of the new AI factory. Analysts have upgraded the stock to “Strong Buy” and reiterated “Buy” ratings, indicating strong investor interest. Additionally, the company’s stock has seen impressive growth, gaining over 700% since its IPO in 2022 and 300% last year. The new 430MW AI factory is expected to start operations in mid-2027, further fueling investor optimism.

Read more at Nasdaq: Stock Market Today, Jan. 23: Applied Digital Jumps After Breaking Ground on New AI Factory