Applied Digital Corp (APLD) announced fourth-quarter fiscal year 2026 revenue of $258.7 million, a 407% year-over-year increase, significantly exceeding market expectations of $94.8 million. The company's full-year revenue reached $611.3 million, up 167%. Adjusted earnings per share were $0.04, also higher than market expectations of a loss of $0.22. This growth was primarily driven by the company's transformation of its data center business into artificial intelligence (AI) and high-performance computing (HPC) infrastructure, securing hyperscale lease agreements including one for $7.5 billion and another for $7.0 billion, and now boasts approximately $36 billion in contracted lease revenue over the contract term.