secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2023-06-26T23:59:59+00:00
Accession:  0001144879-23-000163
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Applied Digital prelim Q4 rev ~$22M, net loss ~$6.8M; launches AI Cloud with $180M customer deal
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- Preliminary Q4 FY2023 revenue ~$22M, net loss ~$6.8M, Adjusted EBITDA $2.7-3.2M (subject to audit).
- AI Cloud service launched; first major customer agreement worth up to $180M over 24 months with significant pre-payment.
- Ordered >26,000 GPUs; top 11 pipeline opportunities have potential $1.3B revenue over 3 years.
- HPC datacenter: 9 MW facility in Jamestown, ND, expected online H2 2023; plans to expand to 200 MW.
- Crypto datacenter: 240 MW online, 246 MW coming online, all contracted under multi-year arrangements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000114487923000163/0001144879-23-000163-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000114487923000163/apld-20230626.htm
  HTML page:      https://secwatch.observer/filing/0001144879-23-000163

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer