Applied Digital Corp.

Applied Digital Corporation (Nasdaq: APLD) operates as a designer, developer, owner, and operator of large-scale, purpose-built data centers engineered to support high-performance computing workloads, including artificial intelligence, machine learning, and other accelerated-compute applications. The company's website is www.applieddigital.com.

The company evolved from a blockchain hosting business into a specialized HPC data center platform organized around its proprietary AI factory model. Applied Digital conducts operations through two reportable segments: the HPC data center hosting business, which represents the primary growth focus, and the legacy blockchain data center hosting business, which serves a single customer under a contract with approximately one and a half years remaining.

Applied Digital's HPC Hosting Business designs and operates next-generation data centers purpose-built for high-density GPU and accelerated-compute infrastructure. The company has developed a standardized, repeatable AI factory design engineered to deliver approximately 150 megawatts of capacity in fourteen to eighteen months. As of May 31, 2026, the company had executed long-term leases representing approximately 1,410 megawatts of contracted critical IT load across five campuses, representing approximately $36.2 billion of total contracted revenue over initial fifteen-year base lease terms. Key facilities include Polaris Forge 1, Polaris Forge 2, and Polaris Forge 3 in the northern United States region, and Delta Forge 1 and Delta Forge 2 in the southern region. Customers include CoreWeave and multiple investment-grade hyperscalers.

The company's Data Center Hosting Business operates hosting sites in Jamestown and Ellendale, North Dakota, representing approximately 286 megawatts of total capacity. In May 2026, Applied Digital completed the separation of its cloud business, resulting in ownership of approximately 97 percent of ChronoScale Corporation, which trades on the Nasdaq Capital Market under the symbol CHRN.

As of May 31, 2026, Applied Digital employed approximately 256 full-time employees across design, engineering, IT, operations, construction, administration, finance, and marketing functions. The company maintains strategic partnerships with suppliers including ABB, BASX, and Caterpillar to support its standardized construction and operational model.