Applied Digital is emerging as a notable artificial intelligence (AI) data-centre infrastructure play after reporting a 322% year-on-year increase in fiscal Q1 revenue, as demand for high-performance computing capacity continues to accelerate.
The company reported $341.9 million in revenue for the three months ended 31st August 2026, up from $80.9 million a year earlier. The result substantially exceeded Wall Street expectations, with analysts surveyed by Zacks forecasting revenue of about $134.1 million.
