Applied Digital Corporation's Strategic Expansion and Stock Performance

• Craig-Hallum maintains a "Buy" rating for NASDAQ:APLD, raising its price target from $12 to $23.
• The Polaris Forge 2 campus, a $3 billion AI Factory project, is set to begin in North Dakota, highlighting Applied Digital's expansion.
• APLD's stock has seen a significant increase, with a current price of $16.82, marking a 19.38% rise.

Applied Digital Corporation, trading on NASDAQ as APLD, is a company focused on providing digital infrastructure solutions. Recently, Craig-Hallum maintained its "Buy" rating for NASDAQ:APLD, with the stock priced at $14.88 on August 18, 2025. The firm also raised its price target from $12 to $23, as highlighted by TheFly, indicating strong confidence in the company's future performance.

The company's ambitious plans include the construction of the Polaris Forge 2 campus, a $3 billion project set to begin in September 2025. This 280-megawatt AI Factory near Harwood, North Dakota, is designed to scale beyond its initial capacity. Operations are expected to start in 2026, reaching full capacity by early 2027. This project highlights Applied Digital's rapid expansion and strengthens North Dakota's role in AI infrastructure.

The Polaris Forge 2 project addresses the increasing demand for AI computing capacity from hyperscalers, enterprises, and research organizations. It builds on the success of the existing Polaris Forge 1 Ellendale campus, further expanding the company's presence in North Dakota. The state offers abundant energy resources, available land, and a favorable business environment, making it an ideal location for such developments.

Currently, APLD's stock is priced at $16.82, marking a 19.38% increase with a change of $2.73. The stock has fluctuated between $14.66 and $16.845 today, with the latter being its highest price over the past year. The lowest price in the past year was $3.01. APLD has a market capitalization of approximately $4.4 billion, with a trading volume of 36,378,642 shares today.