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Applied Digital Corporation

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Applied Digital AI data centre infographic showing $341.9 million in quarterly revenue, 322% annual growth, $183.5 million in tenant fit-out revenue, $65.8 million in base rental revenue, and $6.4 billion in debt.
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Applied Digital’s (Nasdaq: APLD) revenue jumps 322%, but how much is recurring AI rent?

Applied Digital's AI infrastructure expansion lifted quarterly revenue to $341.9 million, but tenant fit-out services contributed more than half the total. With $6.4 billion in debt, $36 billion in long-term lease commitments and substantial construction spending, the distinction between reported growth and sustainable rental earnings is becoming increasingly important.