From Yahoo Finance: 2025-06-04 23:40:00

Applied Digital Corporation (NASDAQ:APLD) saw a 29.27% jump in stock price to $13.25 after B. Riley raised its price target to $15, following a $7 billion lease agreement with CoreWeave, Inc. for hosting AI and HPC infrastructure in North Dakota. The company plans to deliver 250 MW by 2026.

The upbeat forecast and investment firm recommendation contributed to Applied Digital Corporation’s (NASDAQ:APLD) recent stock surge. The company secured a $7 billion lease agreement with CoreWeave, Inc. for hosting AI and HPC infrastructure, with delivery of 250 MW expected by 2026.

Applied Digital Corporation (NASDAQ:APLD) continued its winning streak, closing at $13.25 after B. Riley recommended a “buy” rating and raised the price target to $15. The company’s $7 billion lease agreement with CoreWeave, Inc. for AI and HPC infrastructure hosting in North Dakota spurred investor interest.

Read more: Why Applied Digital Corporation (APLD) Skyrocketed Today