APLD NASDAQ
Credit Risk of going bust: higher than 93% of companies Debt: 52.4% of company value Bonds: $363.9M held by 331 funds, 312 bp over Treasuries → details ▾
If the stock fell to about $3.06 (down 84%), Applied Digital Corp. would be worth roughly what it owes.
Total debt $6.48B against a stock market value of $5.90B.
Distance to default 1.18 (Merton model): prices to 2026-10-27, balance sheet 2026-08-31, debt counted $3.24B (short-term plus half of long-term), stock volatility 101.0%; Altman Z'' 1.26. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
Dallas, TX 75219
US
Applied Digital Corporation designs, develops, and operates digital infrastructure solutions to high-performance computing (HPC) and artificial intelligence industries in North America. It operates through: Data Center Hosting Business, and HPC Hosting Business. The company offers infrastructure services to crypto mining customers; and GPU computing solutions for critical workloads related to AI, machine learning, and other HPC tasks. It also engages in the designing, constructing, and managing of data centers to support HPC applications. The company was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Applied Digital Corporation has an lease agreement with CoreWeave for an additional 150MW at its Polaris Forge 1 Campus in Ellendale, North Dakota. Applied Digital Corporation is based in Dallas, Texas.
Recent Insider Trades
| Name | Type | Shares | Price | Date |
|---|---|---|---|---|
| Cummins Wes | P-Purchase | 55,803 | $18.04 | 2026-10-16 |
| Zhang Jason Gechen | P-Purchase | 300,000 | $18.86 | 2026-10-16 |
| Nottenburg Richard N | S-Sale | 31,250 | $21.84 | 2026-10-13 |
| Cummins Wes | M-Exempt | 100,000 | — | 2026-10-10 |
| Cummins Wes | F-InKind | 39,350 | $23.68 | 2026-10-10 |