Applied Digital Posts Strong Q2 As Talks With New Hyperscaler Tenant Advance
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Applied Digital Corp (NASDAQ:APLD) reported strong Q2 results, exceeding expectations with revenues of $126.6 million and adjusted EBITDA of $20 million. The company is in advanced talks with a new hyperscaler tenant for a potential lease across three sites totaling 900MW, expected to finalize in early 2026. Additionally, Applied Digital plans to spin out its cloud compute segment in a merger with Ekso Bionics Holdings Inc (NASDAQ:EKS), aiming for $60 million in revenues. Shares rose 8.05% to $31.94.
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