10 Best US Stocks Under $10 to Buy Right Now

8. Applied Digital Corp. (NASDAQ:APLD)

Share Price as of March 24: $7.07

Number of Hedge Fund Holders: 42

Applied Digital Corp. (NASDAQ:APLD) provides digital infrastructure and cloud services. It specializes in high-performance computing (HPC) and artificial intelligence (AI) solutions across North America. It offers data center hosting, GPU computing, and related infrastructure development.

The company’s Cloud Services segment provides HPC for AI applications. In FQ2 2025, this segment generated $27.7 million in revenue out of the company’s total revenue of $63.9 million. This contributed to the company’s overall 51% year-over-year revenue increase. Applied Digital Corp. (NASDAQ:APLD) had six GPU clusters online at the end of the quarter and is exploring further opportunities as new GPUs become available, as they become increasingly significant for HPC.

The company’s new partnership with Macquarie Asset Management, which includes a $5 billion financing facility, will further fuel the development of HPC data centers which is crucial for expanding Cloud Services. On February 4, Northland Capital Markets analysts increased their price target for the company to $20 from its previous target of $12, while reiterating an Outperform rating.