Overview
- Management says lease revenue has begun and is expected to ramp next quarter as additional capacity comes online.
- Northland raised its price target to $56 after the company reported advanced talks with a hyperscaler for roughly 900 MW across three potential sites.
- All 14 covering analysts rate the stock a buy, with a 12‑month median target of $43.50 reported by Yahoo Finance.
- Applied Digital reports long‑term lease commitments totaling about $16 billion tied to 600 MW in North Dakota.
- Debt has swelled to nearly $2.6 billion as of Nov. 30 at roughly 9.25% interest, with customer concentration risk highlighted due to heavy exposure to CoreWeave.