On August 4, APPLIED DIGITAL CORP rose 5.32% in regular trading, trading at $31.10/share, with turnover of $2.22 billion.

On the news front, B. Riley raised its price target on the company from $66 to $75, maintaining a buy rating, with the analyst consensus mean target at $74.12. Simultaneously, the AI infrastructure sector continued to strengthen, with peer CoreWeave gaining 6.32% on the day, reflecting significant sector linkage effects.

The move builds on strong fundamental momentum following the company's Q4 earnings that significantly exceeded expectations. Adjusted EPS came in at $0.04, far surpassing the consensus estimate of -$0.22, while fiscal year revenue reached $611.3 million, representing 167% year-over-year growth. The company also completed a $2.15 billion senior secured notes private offering and secured a $550 million revolving credit facility. Additionally, MDU Resources signed a power supply agreement for the company's planned North Dakota AI factory, which will require 430 megawatts at full capacity.

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