Applied Digital (NASDAQ: APLD) shares rose about 4.13% in early morning trade Tuesday to $25.72, erasing Monday’s decline as the AI data-center developer announced an agreement for up to 1 gigawatt of potential power capacity in Finland, its first development opportunity outside the United States.
The stock closed Monday at $24.70, down 2.68% from Friday’s $25.38 close. At $25.72, APLD was roughly 1.3% above Friday’s level, putting the shares back above where they stood before Monday’s decline.
The Finland agreement gives Applied Digital access to potential power capacity for a planned large-scale AI Factory campus. The company has not announced a customer commitment or project investment figure, and said future investment and development decisions will depend on customer demand, commercial milestones and regulatory and development requirements.
Applied Digital has begun marketing the site to global hyperscale customers, with initial power availability expected to begin in 2028.
Finland Expansion Comes With U.S. Projects Still the Near-Term Priority
Chairman and CEO Wes Cummins characterized Finland as a measured expansion rather than a change in strategy, saying Applied Digital remains focused on executing its existing U.S. projects while selectively securing sites that could extend its longer-term development pipeline.
That continued U.S. focus was also reflected in a construction milestone announced Oct. 2 at Applied Digital’s Polaris Forge 1 campus in Ellendale, North Dakota. The company completed the second 75-MW phase of Building 2, increasing operational critical IT load at the site to 250 MW.
The fully leased campus is contracted for 400 MW at full buildout, leaving the Finland opportunity as an addition to, rather than a replacement for, Applied Digital’s existing U.S. development program.
Earnings Follow the Finland Announcement
The company is scheduled to report fiscal first-quarter 2027 results for the three months ended Aug. 31 after the market closes Wednesday, Oct. 7. A conference call is scheduled for 5:00 p.m. Eastern Time.
According to MarketBeat, analysts expect Applied Digital to report a loss of about $0.30 per share on revenue of approximately $116.3 million for the quarter.
Applied Digital has not provided formal revenue or earnings guidance for fiscal first-quarter 2027. In its latest annual filing, the company said it expects general and administrative expenses and operating expenditures to continue increasing as it expands, while significant investment in property and equipment is expected to continue through fiscal 2027 as construction of its HPC hosting facilities progresses.
Separately, Applied Digital Tokenized Stock (Ondo), or APLDon, was trading at $25.32, down 2.62% over the previous 24 hours, according to CoinMarketCap. The tokenized instrument provides economic exposure linked to Applied Digital shares, but its 24-hour pricing period is distinct from Nasdaq regular trading in APLD.
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