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Jan 9, 2026 8:00 PM

Applied Digital Posts Strong Q2 As Talks With New Hyperscaler Tenant Advance

Applied Digital Corp (NASDAQ:APLD) reported a strong beat for the second quarter of fiscal 2026 and said it is in advanced talks with a new hyperscaler tenant, according to Needham.

The Applied Digital Analyst: Analyst John Todaro reaffirmed a Buy rating and price target of $41.

The Applied Digital Thesis: The company’s quarterly revenues and adjusted EBITDA are in-line with Needham's estimates. Todaro noted that the ...