Applied Digital Stocks Surge 25% Premarket on Q3 Revenue Beat and New Lease

Applied Digital soared 25% in pre-market trading after reporting quarterly revenue above analyst estimates and announcing a 150 MW lease with CoreWeave at its North Dakota data center. The deal expands the company’s AI and high-performance computing capacity, highlighting strong demand for U.S.-based infrastructure. Analysts said the results underscore Applied Digital’s strategic positioning in the AI data center boom, with improving margins and growing enterprise partnerships supporting long-term growth momentum.