Applied Digital Extends Rally After Major AI Campus Deal, Expansion Push

Applied Digital Corporation (NASDAQ:APLD) extended its rally into Thursday's premarket after announcing a major leasing milestone tied to its AI infrastructure buildout.

The company secured a long-term lease for its Polaris Forge 3 campus, a high-density AI data center designed to support large-scale compute workloads. The agreement covers 300 megawatts of critical IT load and is valued at roughly $7.5 billion over 15 years.

The deal reinforces Applied Digital's push to position itself as a key infrastructure provider for artificial intelligence and high-performance computing.

The latest development follows the early-May spin-off of its cloud business into ChronoScale Corporation, a Nasdaq-listed AI compute platform, as well as a $300 million Goldman Sachs-led financing facility to help fund expansion at its Polaris Forge 1 data center in North Dakota.

APLD Technical Analysis: Trend, RSI And Key Levels

The stock is significantly above its moving averages, with the 20-day simple moving average (SMA) at $38.93, indicating a bullish trend.

The relative strength index (RSI) stands at 53.97, suggesting that the stock is in a neutral zone, neither overbought nor oversold, which could indicate potential for further upward movement.

• Key Resistance: $47.79 — This level represents the 52-week high, which could act as a psychological barrier for traders.
• Key Support: $38.93 — This aligns with the 20-day SMA, providing a potential cushion for the stock if it experiences a pullback.

APLD Earnings Date, EPS Forecast And Analyst Price Targets

Applied Digital will provide its next financial update on July 29, 2026 (estimated).

• EPS Estimate: Loss of 12 cents (Down from Loss of 3 cents)
• Revenue Estimate: $93.12 million (Up from $38.01 million)

Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $48.29. Recent analyst moves include:

• Needham: Buy (Raises Target to $66.00) (May 21)

APLD ETF Exposure: Funds With The Biggest Positions

• VanEck Digital Transformation ETF (NASDAQ:DAPP): 5.29% Weight
• CoinShares Bitcoin Mining ETF (NASDAQ:WGMI): 5.04% Weight
• Global X Blockchain ETF (NASDAQ:BKCH): 9.22% Weight

Significance: Because APLD carries such a heavy weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.

APLD Stock Price Activity: Applied Digital shares rose 10.32% to $43.60 in premarket trading on Thursday, according to Benzinga Pro data.

Photo: PJ McDonnell / Shutterstock