Applied Digital beats revenue estimates as AI demand fuels data center growth
I'm PortAI, I can summarize articles.
Applied Digitalexceeded revenue expectations for Q1, reporting $64.2 million, driven by increased demand for data center services supporting generative AI applications. Shares rose 3.3% post-announcement. The company secured a new lease with CoreWeave, totaling anticipated lease revenue of $11 billion. Despite a 144% rise in costs to $55.6 million, the adjusted loss per share was 3 cents, better than the expected 13 cents. Analysts predict potential further agreements in high-performance computing by year-end.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Reuters The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments