Applied Digital has evolved from focusing on crypto data centers to becoming a leading AI infrastructure platform, catering to the growing demand from hyperscalers for high-density capacity. The company holds $36 billion in contracted lease revenue across five AI Factory campuses, supporting 1.4 gigawatts of critical IT load with a diverse, investment-grade tenant base. Its strong financial backing includes multi-billion-dollar project-level debt and revolving credit facilities, enabling rapid expansion and future refinancing opportunities. Despite current negative GAAP earnings and a high valuation, the company's long-term goal of reaching $1 billion in net operating income within five years makes it an attractive investment on pullbacks.
Cipher Digital's stock fell 5% following the pricing of an $850 million zero-interest convertible note aimed at funding an expansion of its AI data center projects, including the Barber Lake site. The company also plans a share exchange that increase...
Cipher Digital's stock dropped 14% following its announcement of an $850 million convertible senior notes offering combined with an exchange of existing debt for shares, which causes immediate shareholder dilution. The company is funding its data cen...
Applied Digital, which builds AI data centers with $36 billion in contracted revenue, has seen its stock fall 15.8% year to date due to high debt and unprofitability despite strong lease contracts. Meanwhile, Wolfspeed, a maker of power chips for AI ...
IREN Limited's stock rose 4% following an unconfirmed report that it signed a multiyear AI cloud contract with Anthropic, a private AI developer. This potential deal could add a major frontier AI lab to IREN's customer list, which already includes Mi...
