Applied Digital stock climbs 16% as AI demand fuels data center growth
1. Applied Digital shares surged 16% after strong revenue results. 2. Revenue of $64.2 million exceeded expectations of $50 million. 3. The company secured additional capacity, boosting lease revenue to $11 billion. 4. Reported earnings show a net loss of $18.5 million, less than expected. 5. CEO emphasizes position in AI growth amidst projected $350 billion industry investment.