NasdaqGS:APLDIT
Can Applied Digital’s US$2.15 Billion AI Bet Reframe Its Risk Profile for Investors (APLD)?
In recent weeks, Applied Digital secured US$2.15 billion in senior secured notes to build 200 megawatts of IT capacity at its Polaris Forge 2 AI campus in North Dakota, while also amending and strengthening long-term data center lease agreements with CoreWeave backed by guaranties and a US$50 million letter of credit.
At the same time, investors are watching closely ahead of the April 8 third-quarter earnings release, as the company’s ambitious, debt-funded AI infrastructure build-out and...