Recent Updates — APLD
Applied Digital reported fiscal first quarter results ending August 31, 2026, with revenues of $341.9 million, a 322% increase from the prior year comparable period. The company posted a net loss attributable to common stockholders of $221.0 million, or $0.76 per share. Adjusted EBITDA reached $64.4 million, and adjusted revenue was $300.4 million after excluding results from majority-owned subsidiary ChronoScale. During the quarter, Applied Digital closed $1.59 billion of 7.000% Senior Secured Notes due 2031 to fund construction at Polaris Forge 1 and repay a bridge facility. The company also delivered an additional 75 MW phase at Polaris Forge 1, bringing total live capacity to 250 MW, and secured up to approximately 1 GW of potential power capacity in Finland. Applied Digital designs, develops, owns, and operates large-scale data centers engineered for high-performance computing and AI workloads.
Applied Digital Corporation reported fiscal fourth quarter 2026 results for the period ended May 31, 2026, featuring revenues of $258.7 million, a 407% increase year-over-year, and a net loss attributable to common stockholders of $110.6 million. For the full fiscal year 2026, total revenues reached $611.3 million, up 167% from the prior year. Key strategic developments included the separation of its Cloud Services Business into ChronoScale Holdings Corporation, signing three 15-year take-or-pay leases with a major hyperscaler totaling approximately $20 billion in base-term contracted revenue, and completing a $2.15 billion private offering of senior secured notes. The company also closed a $550 million revolving credit facility. Applied Digital is a designer, developer, and operator of large-scale data centers for high-performance computing workloads.
Applied Digital Corporation entered into an Incremental Assumption Agreement to increase its revolving credit facility to $430.0 million, with a potential total of $550.0 million. Additionally, the company amended its Preferred Equity Purchase Agreement to increase the Series G Convertible Preferred Stock issuance commitment from $1.59 billion to $2.0 billion. Applied Digital Corporation operates in the digital infrastructure and data center development sector.
Applied Digital Corporation, through its subsidiary APLD ComputeCo 2 LLC, has satisfied the ESA Condition regarding its 6.75% Senior Secured Notes due 2031. Following this satisfaction, the Issuer executed an Escrow Release Certificate on June 17, 2026, directing the Escrow Agent to release the gross proceeds from the private note offering held in an escrow account. The funds will be applied in accordance with the Escrow Agreement and the Indenture. Applied Digital Corporation provides digital infrastructure services for high-performance computing.
On June 16, 2026, Applied Digital Corporation's subsidiary, APLD ComputeCo 3 LLC, completed a private offering of $1.59 billion in 7.000% Senior Secured Notes due 2031. The notes were issued at 100% of their principal amount. Proceeds will be used to fund the construction of 150 megawatts of critical IT load (ELN-04) at the Polaris Forge 1 AI Factory campus in North Dakota, repay a bridge loan facility from Goldman Sachs Bank USA, fund debt service reserves, and pay transaction expenses. The notes feature semi-annual interest payments and semi-annual principal amortization. The company provided a completion guarantee for the related projects. Applied Digital operates in the digital infrastructure industry, designing and operating next-generation data centers for AI and HPC workloads.
Applied Digital Corporation announced on June 8, 2026, that it has entered into a long-term lease agreement for its Delta Forge 2 Campus, an AI Factory campus. The company also updated its investor presentation on its website. Applied Digital Corporation operates in the digital infrastructure industry, providing high-performance computing and AI-focused data center services.