Cloud Computing
Applied Digital
An AI infrastructure and data center company providing high-performance computing capacity, part of the same emerging 'neocloud' category as CoreWeave, IREN, and Nebius that has grown rapidly to meet AI compute demand outside the traditional hyperscalers. Applied Digital reported fiscal Q3 2026 revenue of $126.6 million (up 139% year-over-year, beating consensus of $75-78 million), with its Polaris Forge 1 campus reaching full operating capacity at 286 MW of HPC hosting, prompting a new 200 MW hyperscaler lease for Polaris Forge 2.
Leading Indicators
Hiring and patent filing trends — the underlying numbers Momentum is computed from. Insider filing activity is tracked separately under Sources below.
Sources
Every claim traced to a primary source — evidence, recent activity, and insider filing behavior, all in one place.
Evidence
3 sources · 1 government/SEC filing · 82% avg. source confidence
- U.S. Securities and Exchange Commission (EDGAR) — Applied Digital Corp. FY2025 Annual Report (Form 10-K), filed with the SEC90% source confidence
- Applied Digital investor relations / Q3 FY2026 earnings release — Applied Digital Q3 FY2026 revenue surges 139% to $126.6M on AI hosting demand80% source confidence
- Alpha Spread (Applied Digital Q3 FY2026 earnings recap) — Applied Digital signs 200MW hyperscaler lease for Polaris Forge 2 as first campus hits full capacity76% source confidence
Latest Activity
Insider Filing Activity
Counts filing frequency only — transaction direction/size wasn't parseable from the sampled filings · sourced from SEC EDGAR · as of Jul 28, 2026
Dependency Map
What Applied Digital depends on below, and who depends on Applied Digital above — click any node to make it the new center, 2 levels deep.
Connection type
Click any node to make it the new center. Scroll to zoom, drag to pan.
The Story So Far (last 6 months)
Auto-generated from this entity's dated milestones, relationship updates, and sourced evidence — not AI-written, just sorted.