Applied Digital Corporation (NASDAQ:APLD) is among the best-performing mid-cap tech stocks in the last three years. Roth Capital Partners maintained its Buy rating on APLD and raised the price target to $43 from $24 on October 1, 2025. There is potential for another HPC colocation agreement at the company’s 280-MW Harwood, North Dakota site by the end of 2025 or early 2026.

The Harwood “Polaris Forge 2” AI campus is set to start initial operations in 2026 and reach full capacity in early 2027, according to the company’s August announcements. Meanwhile, Applied Digital signed two 15-year leases with CoreWeave for 250 MW at its Ellendale, North Dakota campus, expected to generate roughly $7 billion over the term.

Based in Dallas, Texas, Applied Digital Corporation (NASDAQ:APLD) designs, builds, and operates next-generation digital infrastructure and HPC data centers supporting AI and high-performance computing workloads. While APLD has investment potential, some AI stocks may offer greater upside potential with less downside risk. For an undervalued AI stock with potential benefits from Trump-era tariffs and the onshoring trend, check out the best short-term AI stock.

Read more at Yahoo Finance: Roth Raises Price Target on Applied Digital to $43 Amid AI Campus Expansion, CoreWeave Leases