10 Best Low Priced Technology Stocks To Buy Now

7. Applied Digital Corporation (NASDAQ:APLD)

Share Price as of December 24: $8.56

Number of Hedge Fund Holders: 26

Applied Digital Corporation (NASDAQ:APLD) is a technology company that specializes in designing and operating data centers and cloud services tailored for high-performance computing (HPC) and artificial intelligence (AI). The company focuses on providing advanced infrastructure solutions that are flexible and reliable, essential for supporting the growing demands of the AI revolution. Applied Digital Corporation (NASDAQ:APLD) is one of the best low-priced stocks to invest in.

In September 2024, Applied Digital Corporation (NASDAQ:APLD) secured a significant $160 million in private placement financing from institutional and accredited investors, including NVIDIA. This strategic funding enhances the company’s financial strength and positions it as a leader in the accelerated computing space. With this capital, Applied Digital Corporation (NASDAQ:APLD) aims to scale its transformative data center and GPU cloud solutions.

For its fiscal first quarter of 2025, which ended on August 31, 2024, Applied Digital Corporation (NASDAQ:APLD) reported revenues of $60.7 million, a remarkable 67% increase from the previous year. The Cloud Services Business contributed $25.9 million to this revenue, supported by the addition of two new GPU clusters, bringing the total to six clusters at the end of the quarter. Each cluster contains 1,024 GPUs.

Additionally, on December 17, 2024, Applied Digital Corporation (NASDAQ:APLD) announced a major milestone in developing its HPC data center in Ellendale, North Dakota, with the successful energization of its main substation transformer. This step marks a critical step toward bringing the Ellendale HPC campus fully online and enabling it to support HPC and AI workloads.

Given its strong financial performance, strategic partnerships, and commitment to innovation in cloud services and data center technology, Applied Digital Corporation (NASDAQ:APLD) presents an attractive investment opportunity. The company’s focus on scalable and efficient infrastructure solutions positions it well to capitalize on the growing demand for AI and HPC services in various industries.