Applied Digital Corporation (NASDAQ:APLD) shares rose Tuesday trading after the company secured access to up to 1 gigawatt of potential power capacity in Finland, marking its first development opportunity outside the U.S.
Investors are also looking ahead to Applied Digital’s Oct. 7 earnings report, with analysts forecasting $132.16 million in revenue and a 30-cent-per-share loss.
Finland Site Extends AI Infrastructure Pipeline
Applied Digital plans to develop a large-scale AI Factory campus in Finland that could scale to 1 GW, with initial power availability expected in 2028.
The company has begun marketing the site and is in discussions with global hyperscale customers.
Applied Digital said its near-term priorities remain focused on its U.S. portfolio. Future investment in Finland will depend on customer demand, commercial milestones, and regulatory and development requirements.
Chairman and CEO Wes Cummins called the project “a deliberate first step, not a change in our strategy,” while citing Finland’s climate, energy ecosystem, connectivity, and development scale.
Polaris Forge 1 Capacity Reaches 250 MW
Recently, Applied Digital brought another 75 MW of AI infrastructure online at its Polaris Forge 1 campus in North Dakota.
The milestone completed Building 2 at 150 MW of critical IT load and increased the campus’s operational capacity to 250 MW. Polaris Forge 1 is fully leased and contracted to deliver 400 MW at full buildout.
Cummins said the expansion demonstrates the company’s ability to convert large-scale power into operational AI infrastructure.
APLD Remains Below Key Moving Averages
Applied Digital remains below its major moving averages, trading below the 20-day SMA of $26.02, 50-day SMA of $27.17, 100-day SMA of $33.07, and 200-day SMA of $32.11.
The 50-day SMA remains below the 200-day average following an August death cross. MACD is also below its signal line with a negative histogram.
Key resistance sits near $29, while support is around $24.
The stock’s 12-month performance is down 10.86%, and the stock is still far from its $50.73 52-week high while sitting above the $19.00 52-week low.
Earnings And Analyst Targets In Focus
Applied Digital is scheduled to report earnings on Oct. 7.
Analysts expect a loss of 30 cents per share versus a loss of 3 cents a year earlier. Revenue is estimated at $132.16 million, up from $64.22 million.
The stock carries a Buy consensus rating with an average price forecast of $61.65.
UBS initiated coverage with a Buy rating and a $38 target on Sept. 23.
Rothschild & Co initiated coverage with a Neutral rating and a $22 target on Sept. 21, while Wells Fargo initiated coverage with an Overweight rating and a $50 target on Sept. 17.
APLD Stock Price Activity: Applied Digital shares were up 3% at $25.45 at last check on Tuesday, according to Benzinga Pro data.
Photo: PJ McDonnell / Shutterstock
Login to comment