Applied Digital’s sizable 4-gigawatt pipeline positions the company to sign multiple large deals beyond CoreWeave, potentially drawing more hyperscalers and accelerating revenue growth as AI deployment expands.

Industry leaders like Alphabet, Microsoft, Amazon, and Meta are heavily investing in AI, driving demand for power-efficient data centers and AI-specific infrastructure that Applied Digital is poised to serve.

With a pipeline that surpasses peers like Iren and Cipher Mining, Applied Digital could emerge as a leader in long-term AI data-center capacity.

The piece notes potential stock upside but also includes disclosures about Motley Fool stock picks and authors’ positions in related firms.

Motley Fool highlights that Applied Digital was not among their top 10 stock recommendations at the moment, suggesting investors should weigh broader signals beyond a single company’s potential.

Q1 FY26 revenue came in at $64 million, but growth is expected to accelerate as CoreWeave contracts mature and additional deals are signed.

Although revenue was modest in Q1 FY26, the long-term contracts and robust pipeline imply significant upside if build-out and signings continue.

Analysts say a single large deal can move the revenue needle, and guided by CoreWeave, Applied Digital could rapidly expand its footprint with continued sizable agreements.

Stock performance may hinge on deal awards and pipeline-to-revenue conversion rather than short-term earnings alone.

Applied Digital stresses timely, on-budget project delivery as a key to earning trust from major tech firms and securing multi-year, high-value contracts.

Motley Fool notes on ownership and recommendations related to peers and major tech firms reflect broader market interest in AI infrastructure plays.

Polaris Forge 1’s 100 MW build is nearing completion on schedule and budget, signaling execution capability and potential trust-building with hyperscalers.