New York, Feb 17, 2026, 05:38 EST — Premarket
- Applied Digital was trading close to $35.28 just before the bell, following the U.S. market holiday on Monday.
- Index futures slipped, putting higher-volatility tech and AI infrastructure stocks back under pressure.
- Traders are eyeing new information on leasing, power-capacity figures, and waiting for the next earnings date.
Applied Digital Corp held steady near $35.28 in early premarket trade Tuesday. U.S. exchanges had been closed Monday for Presidents’ Day, while futures for the Nasdaq and S&P 500 signaled a weaker open. (Investing)
Shares dropped 2.46% on Feb. 13, reversing some of the gains from a surge earlier this month. Volatility has been high, with the stock swinging broadly day-to-day in recent weeks. (Investing)
Applied Digital’s fortunes have become closely tied to the swings in AI data-center expansion—making it essentially a leveraged play on the sector. Power supply issues and shifts in long-term contracts can upend outlooks fast, leaving the company exposed to abrupt changes in sentiment.
Applied Digital’s fiscal second-quarter revenue hit $126.6 million in January—beating analyst forecasts. The company also inked lease deals with two hyperscalers at separate North Dakota campuses. CEO Wes Cummins cited the area’s “cool climate and abundant energy” as key selling points. (Reuters)
Hyperscalers — big cloud providers — scoop up computing power in bulk. When it comes to projects, capacity gets talked about in megawatts (MW), not servers or racks. Limits on electricity and cooling are often what determines just how quickly new sites can get up and running.
Cummins, during its earnings call, pointed out that lead times for standard gas turbines could now run as far out as 2031 or even 2032. The company said it’s looking at other power solutions in hopes of speeding things up. (Investing)
There’s been some insider selling around recent peaks, according to filings. On Jan. 12, Director Douglas S. Miller unloaded 10,000 shares at $38.54. Then, Director Chuck Hastings moved 45,987 shares on Jan. 29, fetching $38.57, as the Form 4s indicate. (Sec)
Execution looms as the main worry, investors tell it—big campuses demand major spending up front, plus a juggling act with permits, hardware, and tying in to the grid. Applied Digital, for its part, has flagged that there’s “no assurance” of nailing down more contracts while talks with possible clients are still underway. (Investing)
Traders are eyeing Tuesday’s opening bell to see if risk appetite snaps back for high-beta AI infrastructure names. Applied Digital has its next earnings release scheduled for May 8, Investing.com shows. (Investing)
Another key factor tied directly to the company: management is targeting the first half of 2026 for closing the planned spinout of Applied Digital Cloud into ChronoScale. (Investing)
