Applied Digital surges after quarterly revenue beat on AI-driven demand

Data center operator Applied Digital APLD.O jumps 25.6% to $12.6 before the bell

Co tops quarterly revenue estimates on artificial intelligence-driven demand for cloud services, with its infrastructure allowing companies to efficiently scale AI-focused cloud services

Wall Street's AI heavyweights fuel $500 bln gain in stock market value with results from Microsoft MSFT.O and Meta Platforms META.O showing investments in tech paying off

Texas-based APLD secures two 15-year lease agreements with CoreWeave CRWV.O, with projections of $7 bln revenue through lease term

Roth MKM increases PT to $24 from $17.50; says with co's Coreweave lease at Ellendale and expansion on new campuses they expect this to just be the start for APLD's value

APLD posts Q4 rev of $38 mln compared to Wall Street expectations of $37.1 mln - data compiled by LSEG

Eight out of 9 analysts rate stock as "buy", one "hold"; Median PT is $14 - LSEG

As of last close, APLD up 31.3% YTD