8 Unstoppable Artificial Intelligence (AI) Stocks to Invest In

5) Applied Digital Corporation (NASDAQ:APLD)

Percentage Return Over 6 Months: ~110.3%

Average Upside Potential: ~31.1%

Number of Hedge Fund Holders: 26

Applied Digital Corporation (NASDAQ:APLD) is engaged in designing, developing, and operating digital infrastructure solutions and cloud services in high-performance computing (HPC) and artificial intelligence industries in North America. The company’s infrastructure aids AI/ML applications, including natural language processing, computer vision, and other high-performance applications. The upward trajectory in Applied Digital Corporation (NASDAQ:APLD)’s stock continued as the company entered into a $5.0 billion perpetual preferred equity financing facility with investment vehicles of funds managed by Macquarie Asset Management.

As per Anton Moldan, Senior Managing Director of Macquarie Asset Management, Applied Digital Corporation (NASDAQ:APLD) possesses a differentiated strategy with access to a unique near-term power portfolio throughout North America in markets attractive for computing needs that address the most demanding AI and other HPC applications at scale. The capital influx from Macquarie is expected to accelerate the development of Applied Digital Corporation (NASDAQ:APLD)’s North Dakota data center campus, which forms a key component of its growth plans. Furthermore, HC Wainwright upped the price target on the company’s shares from $10.00 to $12.00, giving a “Buy” rating.

AI models, mainly LLMs, need vast computational resources. The company’s next-generation HPC data centers are suitable for AI training and inference workloads. As AI adoption grows across industries, the demand for such infrastructure solutions is expected to increase, fueling revenue growth for Applied Digital Corporation (NASDAQ:APLD).