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Director Richard N. Nottenburg of Applied Digital Corp (NASDAQ:APLD), a $3.77 billion market cap company whose stock has surged 205% over the past year despite recent volatility, sold 20,000 shares of common stock on September 3, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold at a price of $15.26, for a total transaction value of $305,200. Following the transaction, Nottenburg directly owns 297,987 shares
In other recent news, Applied Digital announced a new lease agreement with CoreWeave for an additional 150MW at its Polaris Forge 1 Campus in North Dakota. This new lease increases the company’s anticipated contracted lease revenue to approximately $11 billion, including $7 billion from two initial leases executed in May. The three long-term lease agreements will cover a total of 400MW of critical IT capacity at the campus. Additionally, Applied Digital plans to break ground on a $3 billion AI computing facility, Polaris Forge 2, near Harwood, North Dakota, in September 2025, with operations expected to commence in 2026 and full capacity anticipated by early 2027. H.C. Wainwright has raised its price target for Applied Digital to $20 from $15, maintaining a Buy rating, following the company’s announcement of the new facility. Furthermore, Applied Digital has doubled its Series G preferred stock offering to $300 million to support ongoing construction and development efforts at its Polaris Forge I data center. These developments highlight the company’s strategic expansion in response to growing demand for AI computing power.
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