Applied Digital Corporation

Applied Digital is a Dallas-based developer and operator of large-scale digital infrastructure, focused on the high-density data centers that AI training and inference now demand. The publicly traded company (Nasdaq: APLD) builds and runs campuses sited for direct access to abundant, low-cost power, the constraint that governs where hyperscale compute can actually land. Its projects run to hundreds of megawatts, including the $3.6 billion Delta Forge 1 AI factory campus under construction in central Louisiana. Applied Digital sits between real estate and cloud, owning the buildings, power, and cooling that AI companies lease rather than build themselves. Its growth tracks the broader rush to stand up domestic AI capacity.