Why These 15 Data Center Stocks Are Skyrocketing So Far In 2025

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6. Applied Digital Corp (NASDAQ:APLD)

Number of Hedge Fund Holders In Q4 2024: 41

Applied Digital Corp (NASDAQ:APLD) is a crypto company but it is increasingly focusing on cloud services for HPC computing.

The stock is up significantly so far in 2025 as it entered into a $5 billion perpetual preferred equity financing facility with Macquarie Asset Management for HPC business. It got an initial investment of up to $900 million for the Ellendale HPC Campus development.

In Q2 FY2025, revenue grew 51% year-over-year to $63.9 million, and the company reported a better-than-expected adjusted net loss of $0.06 per share versus an expected $0.14 loss. Adjusted EBITDA increased 93% to $21.4 million.

It also surged after Nvidia’s SEC filing revealed continued ownership of 7.7 million APLD shares. This is particularly significant as Nvidia sold out of other AI-related holdings like SoundHound AI and Serve Robotics.

The consensus price target of $12.11 implies 21.23% upside.

APLD stock is up 31.66% year-to-date.

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