Applied Digital Corp (APLD) stock surged 5.01% in Thursday's trading session, following the company's impressive third-quarter financial results that surpassed Wall Street expectations. The strong performance was primarily driven by accelerated demand for AI and high-performance computing infrastructure.

The company reported Q3 CY2025 revenue of $64.22 million, beating analyst estimates of $54.59 million and representing an 84.3% year-on-year growth. Adjusted earnings per share came in at -$0.03, significantly better than the expected -$0.16. CEO Wes Cummins highlighted the company's success in securing and delivering large-scale data center projects, particularly through its partnership with CoreWeave, as key factors contributing to the revenue growth and operational integration.

Investors were particularly encouraged by Applied Digital's expanding long-term lease agreements with major hyperscale customers and the company's ability to meet the growing demand for gigawatt-level site capacity. The positive outlook for ongoing negotiations with new hyperscalers for additional campus sites further bolstered investor confidence. As Applied Digital continues to execute its expansion plans and maintain efficient cost structures, the market appears optimistic about the company's future growth prospects in the rapidly evolving AI infrastructure sector.