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Applied Digital (APLD) Soars 31% on Expanded Multi-Billion Contract with CoreWeave
We recently published . Applied Digital Corp. (NASDAQ:APLD) is one of the best-performing stocks on Thursday. Applied Digital snapped a four-day losing streak on Thursday, jumping 31.01 percent to close at $13.14 apiece as investors took heart from its expanded lease agreement with an AI hyperscaler that could result in some $11 billion in revenues. In a statement, Applied Digital Corp. (NASDAQ:APLD) announced that CoreWeave Inc. (NASDAQ:CRWV) exercised its lease option for an additional 150 MW of critical IT load on top of the 250 MW signed earlier, bringing the total capacity to 400 MW. Copyright: believeinme33 / 123RF Stock Photo The new load would effectively raise Applied Digital Corp.'s (NASDAQ:APLD) revenues by another $4 billion to a total of $11 billion from the said contract alone. According to the company, the first 100 MW facility is scheduled to be operational in the fourth quarter of the year, to be followed by a 150 MW capacity in the middle of next year, and the third 150 MW in 2027. Meanwhile, Applied Digital Corp. (NASDAQ:APLD) narrowed its net loss attributable to shareholders in the fourth quarter ending May 2025 by 16 percent to $53.9 million from $64.7 million in the same period last year. Total revenues increased by 41 percent to $38 million from $26.9 million year-on-year. While we acknowledge the potential of APLD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Cathie Wood buys $11 million of surging AI stock
Cathie Wood buys $11 million of surging AI stock originally appeared on TheStreet. Cathie Wood, head of Ark Investment Management, is known for making bold bets on tech stocks she believes will shape the future. She buys even as stock prices surge, betting that long-term gains will overcome short-term volatility. This is what she just did, adding shares of a popular AI stock that has surged more than 9% in the past five days. Invest in Gold Thor Metals Group: Best Overall Gold IRA Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase American Hartford Gold: #1 Precious Metals Dealer in the Nation Wood's funds have experienced a volatile ride this year, swinging from sharp losses to strong gains. In January and February, the Ark funds rallied as investors bet on the Trump administration's potential deregulation that could benefit Wood's tech bets. But the momentum faded in March and April, with the funds trailing the market as top holdings — especially Tesla, her biggest position — slid amid growing concerns over the macroeconomy and trade policies. Now, the fund is regaining momentum. As of July 31, the flagship Ark Innovation ETF () is up more than 30% year-to-date, far outpacing the S&P 500's 7.8% gain. Wood's remarkable return of 153% in 2020 helped build her reputation and attract loyal investors. Her strategy can lead to sharp gains during bull markets but also painful losses, like in 2022, when ARKK dropped more than 60%. As of July 30, Ark Innovation ETF, with $6.8 billion under management, has delivered a five-year annualized return of negative 0.72%. The S&P 500 has an annualized return of 16.14% over the same period. Cathie Wood's investment strategy explained Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics. She says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' the 10 years ending in 2024, the Ark Innovation ETF wiped out $7 billion in investor wealth, according to an analysis by Morningstar's analyst Amy Arnott. That made the ETF the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Still, Wood has been bullish on the market. In a letter to investors published in late April, she dismissed predictions of a recession dragging into 2026 and struck an optimistic tone for tech stocks. "During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. Not all investors share this optimism. Over the past 12 months through July 30, the Ark Innovation ETF saw $1.8 billion in net outflows, with nearly $20 million exiting the fund in the past month, according to ETF research firm VettaFi. Cathie Wood buys $11 million of AMD stock Wood has been picking up Advanced Micro Devices () stock recently, with the Ark funds buying 28,506 shares worth about $5 million this week and 32,846 shares valued at $5.8 million last week. She had sold about 121,000 AMD shares in the first quarter of 2024 (then 38.9% of her total stake) when the stock was riding high. Since then, as the stock has dropped, she's been rebuilding her position, according to data from purchase came as the stock hit a 52-week high of $182.31 on July 29, rebounding from a low of $76.48 in April. The chipmaker is gaining momentum in the AI race after trailing Nvidia () for several months. AMD is raising the price of its Instinct MI350 AI accelerator to $25,000 from $15,000, according to Wccftech's recent report citing HSBC's analyst note. The nearly 70% increase in MI350's price could mean a notable growth in AMD's future revenue. The price increase indicates that AMD is seeing demand for its AI products, the report said. In June, AMD's CEO Lisa Su said at a developer conference that the MI350 series is faster than Nvidia's. Meanwhile, the MI350 is cheaper than its counterpart product from Nvidia's Blackwell B200, Wccftech reported. AMD is set to report its second-quarter earnings on August 5. Three months ago, the company reported stronger-than-expected first-quarter results and gave a solid forecast for the second quarter, even as it faced challenges from the broader economy and export curbs on chip sales to China. 'While we face some headwinds from the dynamic macro and regulatory believe they are more than offset by the powerful tailwinds from our leadership product portfolio,' AMD's CEO Lisa Su said in May. Several analysts are more optimistic and believe AMD may deliver stronger results than expected. Bank of America has raised its price target on AMD to $200 from $175, maintaining a buy rating ahead of the earnings report, according to a research note published on July 29. The firm sees upside supported by solid demand for CPU and GPU, stronger pricing for AI chips, and a robust cloud capex environment, analyst Vivek Arya wrote. AMD is now the 11th holding of the ARK Innovation ETF, according to The stock closed at $176.92 on July 31 and is up 46.4% Wood buys $11 million of surging AI stock first appeared on TheStreet on Aug 1, 2025 This story was originally reported by TheStreet on Aug 1, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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The AI Race Has Big Tech Spending $344 Billion This Year
(Bloomberg) -- If there's any lesson to take from the spending plans issued by the world's largest technology companies over the past two weeks, it's to never underestimate the fear of missing out. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival We Should All Be Biking Along the Beach Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus Microsoft Corp., which set a $24.2 billion capital spending record last quarter, plans to drop upwards of $30 billion in the current period. Inc. similarly spent $31.4 billion last quarter, almost double what it dropped a year ago, and is maintaining that level of investment. Google owner Alphabet Inc. raised its capital expenditures guidance this year to $85 billion. Then there's Meta Platforms Inc.: The social networking giant lifted the low end of its forecast for 2025 capital expenditures and projected that costs will continue to grow at an even faster pace next year. Altogether, the four companies are expected to spend more than $344 billion for the year, with much of it going to the data centers necessary to run AI models. 'We've basically tripled capex investment in cloud due to AI,' Bloomberg Intelligence analyst Mandeep Singh said. The emphasis from virtually every company executive during this earnings season was on investing as quickly as possible to get ahead. 'We need the teams to execute at their very best to get the capacity in place as quickly and effectively as they can,' Microsoft Chief Financial Officer Amy Hood told analysts in a call Wednesday. Susan Li, Meta's CFO, said the goal of its own spend is to secure the advantage 'in developing the best AI models.' Wall Street's response has been mixed. Meta was rewarded — in large part because the company posted a strong second-quarter sales beat and issued a rosy revenue forecast, signaling that the billions it's spending on AI are paying off. 'On advertising, the strong performance this quarter is largely thanks to AI unlocking greater efficiency and gains across our ad system,' Chief Executive Officer Mark Zuckerberg said on an analyst call. Zuckerberg has plans to build several massive data centers and has been luring top AI researchers with compensation packages valued at hundreds of millions of dollars. The company recently restructured its internal AI division, now referred to as Meta Superintelligence Labs, in an effort to build human-level AI capabilities and apply that technology across its products. Shares of the company have gained more than 8% since it reported earnings on Wednesday. Amazon, on the other hand, failed to convince investors that its lavish spending has been worth it. The stock was down as much as 8.1% on Friday after the company reported tepid sales from its cloud division. The results were 'especially disappointing' given the strong performance from Google's and Microsoft's own cloud services, according to Bloomberg Intelligence. And the ongoing capital costs won't help. The operating margin for Amazon's cloud unit will continue to face pressure 'through 2026 as capital spending ramps up,' BI analysts Poonam Goyal and Anurag Rana said. Alphabet's shares are essentially unchanged from last week when it reported earnings and issued guidance. The company raised its capital expenditures outlook by $10 billion and expects to ramp up spending even more in 2026. Chief Executive Officer Sundar Pichai explained that the investments are necessary to keep up with customer demand. 'Obviously, we are seeing strong momentum across our portfolio, and especially in cloud,' Pichai told analysts in a call on July 23. 'It's a tight supply environment, and we are investing more to expand.' Nikhil Lai, an analyst at Forrester, put it another way: If Google wants to keep up with rivals, he said, it has little choice but to follow suit: 'Google's hand is forced by OpenAI to spend tremendously on AI's infrastructure and applications.' Microsoft tied its AI investments directly to a 39% jump in sales for its Azure cloud-computing division, which came in ahead of analysts' estimates. 'We continue to lead the AI infrastructure wave and took share every quarter this year,' Chief Executive Officer Satya Nadella said in a call with analysts on July 30. 'In Microsoft's case, the returns are good,' Gil Luria, an analyst with DA Davidson & Co., said in an interview. The only question now is whether Microsoft's customers are in turn seeing a decent return on investment, he said. 'That's where the test will be,' he said. 'If they don't, they're not going to increase that spend next year.' Apple Inc.'s capital plans pale in comparison to its big tech peers. But the iPhone maker did raise its spending estimates, tying much of the increase to AI efforts. Apple's property, plant and equipment investments totaled $9.47 billion in the nine months ended June 28, up nearly 45% from a year ago. 'You are going to continue to see our capex grow,' Chief Financial Officer Kevan Parekh told analysts on Thursday. 'It's not going to be exponential growth, but it is going to grow, substantially. And a lot of that's a function of the investments we're making in AI.' --With assistance from Nick Turner. (Adds chart after fourth paragraph and detail on Apple's spending in the second to last paragraph) How Podcast-Obsessed Tech Investors Made a New Media Industry Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Sign in to access your portfolio
