Stock Track | Applied Digital Soars 5.29% on Target Price Upgrade and Hyperscale Lease Agreement

Stock Track06-02

Applied Digital Corporation's stock surged 5.29% intraday, continuing its positive momentum in the market.

The movement appears driven by two key factors. First, Wall Street firm B. Riley raised its target price on the company from $53 to $66 while maintaining a buy rating. Second, Applied Digital announced a significant new lease agreement with a U.S. high investment-grade hyperscale cloud provider for its fourth AI factory campus, Polaris Forge 3, which is designed to deliver 300 megawatts of critical IT load capacity.

The company, which designs, builds and operates next-generation digital infrastructure for high-performance computing and artificial intelligence industries, benefited from broader strength in the Internet Services & Infrastructure sector during the trading session.

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