Description

Applied Digital’s $2.15 Billion Financing Could Unlock A Mega AI Expansion!

Applied Digital reported significant progress and financial results for its fiscal third quarter ended February 28, 2026, highlighting its focus on large-scale, high-power density AI data centers and crypto mining operations. The company operates one of the few 100-megawatt direct-to-chip liquid-cooled data centers globally, now generating over $44 million in adjusted EBITDA in the quarter from its core business segments. Applied Digital’s high-performance computing (HPC) segment is expanding rapidly, with only a tenth of its total planned capacity currently operational amid ongoing construction of additional 150-megawatt facilities across multiple campuses. Financially, revenue surged by 139% to $126.6 million quarter-over-quarter, driven primarily by the HPC hosting business generating $71 million and the data center segment contributing $37.5 million. The company’s crypto hosting operations continue to deliver strong returns on assets, with $13.9 million operating profit on $119.6 million of assets. In contrast, the cloud segment recorded an $18.