Applied Digital is trading at $24.33 (+4.77%) in pre-market after its July 27 earnings update highlighted massive top-line expansion and significant new contract wins.
- The company reported 407% revenue growth to $258.7 million, bolstered by approximately $20 billion in new hyperscaler lease agreements.
- Gains are supported by a broader risk-on tech session as the Nasdaq moves higher and crypto markets firm up, with Bitcoin up 1.50% and Ethereum up 1.57%.
- The positive macro backdrop for AI, data centers, and crypto-linked infrastructure is providing additional momentum to the stock's post-earnings rally.