New York, Jan 16, 2026, 20:50 (EST) — Market closed.
- Applied Digital shares ended Friday roughly 6% higher, capping off a rollercoaster week for the data-center builder.
- SEC filings revealed that co-founder Jason Zhang has been promoted to president, alongside insider stock sales from several executives and a director.
- U.S. markets remain closed Monday in observance of Martin Luther King Jr. Day. Attention now turns to Tuesday’s open and any fresh news on leases or financing.
Applied Digital shares climbed roughly 6.1% on Friday, finishing at $37.40. Throughout the session, the stock moved between $34.58 and $37.52, with around 31.8 million shares traded.
The Dallas-based firm finds itself at the heart of a bustling trade: power, data centers, and the infrastructure fueling AI workloads. Leadership changes and insider trades often catch more eyes when the stock is already volatile.
Applied Digital announced in an 8-K filing that its board has approved co-founder Jason Zhang’s move to president, effective Jan. 14. Zhang has spearheaded strategic efforts such as lease talks for the Polaris Forge campuses in North Dakota. His base salary will be $700,000, the filing noted.
Chief executive Wes Cummins described the appointment of Zhang as president as a move they’re “extremely pleased” about, tying it to efforts to expand their AI Factory platform. Cummins will continue as chairman and CEO. (Applied Digital Corporation)
A separate filing revealed Cummins offloaded 165,000 shares on Jan. 16, fetching a weighted average price of $36.42, with individual sales between $35.07 and $37.46. The Form 4 showed he still owned roughly 4.18 million shares right after the transaction — a required disclosure insiders submit following stock trades. (Applied Digital Corporation)
A Form 144 notice flagged a planned resale of 165,000 restricted or control shares, naming Morgan Stanley Smith Barney as the broker. The filing valued the shares at roughly $6.0 million. (Applied Digital Corporation)
Director Richard Nottenburg disclosed selling 11,606 shares on Jan. 14, followed by another 12,000 shares on Jan. 15, according to filings. After these sales, he reported holding 233,378 shares. (Applied Digital Corporation)
Applied Digital reported fiscal second-quarter revenue of $126.6 million earlier this month. The firm also announced leases with two hyperscalers at its North Dakota campuses, including a CoreWeave agreement at Polaris Forge 1. It pegged total potential lease revenue at roughly $16 billion and said it’s in “advanced discussions” with another investment-grade hyperscaler, though it warned there’s no guarantee those deals will close. (Applied Digital Corporation)
Still, familiar risks linger. This project demands heavy capital, and its success depends on hitting construction deadlines, securing power, and maintaining steady funding — any delay could quickly sour sentiment.
Applied Digital’s investor relations calendar shows no scheduled events ahead. Traders are left to focus on filings, headlines about lease signings, financing news, and tracking insider selling activity—whether it picks up or eases. (Applied Digital Corporation)
U.S. stock markets will remain shut Monday in observance of Martin Luther King Jr. Day, delaying APLD’s next significant test until Tuesday’s open. Investors will watch closely to see if Friday’s gains stick once trading kicks back in. (Nasdaqtrader)
