Applied Digital Corporation (APLD) is experiencing a notable rise in its stock price today, driven by a broader market shift favoring small-cap technology stocks. The Russell 2000 index, which tracks smaller companies, has outperformed the S&P 500 since the recent election, indicating renewed investor interest in small-cap stocks. This trend benefits companies like Applied Digital, which have been overlooked during the AI boom but now present attractive entry points for investors.
The company's transformation from a crypto infrastructure provider to a leading AI computing platform has also contributed to its stock's upward momentum. Applied Digital's fiscal Q1 2025 results showed a 67% year-over-year revenue increase, driven by growth in cloud services for AI applications. The company has secured a $160 million strategic investment from Nvidia and Related Companies, further validating its technology approach and providing capital for expansion.
Applied Digital's stock is currently trading at $11.21, up 11.61% from its previous close of $10.04, and 9.43% higher than its opening price of $10.24.