Applied Digital builds data centres in North Dakota and Louisiana and leases them, powered and cooled, to CoreWeave and two investment-grade hyperscalers it does not name, while a legacy business hosts crypto miners in two older buildings. At 31 May 2026 it had 1,410 megawatts of critical IT load under contract across five campuses, about 100 of them earning, and its own accounts scheduled $35,844.9 million of minimum lease payments still to be received. This is a full institutional-grade equity research report on Applied Digital Corporation (NASDAQ: APLD), built from SEC XBRL company facts, the annual reports for fiscal 2026 and 2025, every quarterly report since October 2024, the results releases and transaction filings to July 2026, and the 2025 proxy statement, into eight chapters and 81 rebuilt charts.
Research Study
Purchase this study for full access, or subscribe to get every research study included — the entire catalogue, not one at a time, plus all premium content.