United States · Business news · AI & Tech · 07 Oct 2026
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AI: Cloud and data centres — more AI news
Applied Digital, which builds and leases data centres for AI computing, reported revenue of $341.9 million for its fiscal first quarter ended August 31, 2026, up 322% from $80.9 million a year earlier. The net loss widened to $221.0 million, or $0.76 a share, from $18.5 million. The company said it has leases for about 1.41 GW across five campuses, and that 250 MW is live at its Polaris Forge 1 campus after a second 75 MW phase was delivered on October 1. The shares fell 6.04% in the regular session and rose 1.9% after the close.
The finance angle is the contracted revenue: about $36 billion over the initial terms of the leases, paid by the AI cloud companies and hyperscalers that rent the capacity. That backlog is many times current revenue, and turning it into cash depends on the company finishing buildings and securing power on schedule, and on tenants paying over many years. The wider loss shows the cost of that build-out, much of it financed with debt at a time when US long-term yields are at 24-year highs. Suppliers of chips, cooling and electrical equipment earn from the construction; other listed data-centre developers are valued on the same kind of backlog.
Reported by Investing.com — “Applied Digital posts top-line beat in Q1 amid data center growth” ↗ on 07 Oct 2026.
Official series on 07 Oct 2026 or the last day before it, and the latest observation.
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