Applied Digital Corporation is trading 10.3% up in pre-market at $45.14, extending a rebound as investors focus on the company's massive long-term contract pipeline.
- The company recently highlighted a $36 billion, 15-year backlog for data-center and AI compute services, signaling significant long-term revenue potential.
- A key driver is a major 210 MW lease agreement with an investment-grade U.S. hyperscaler, reinforcing the firm's position in the AI infrastructure sector.
- Shares are recovering from sharp losses sustained last week as market sentiment shifts toward fundamental growth prospects despite current net losses.