Applied Digital (APLD) Soars on Nov. 20 as Babcock & Wilcox Power Deal, $2.35B Notes Offering and AI “Factory” Buildout Collide
Applied Digital shares rose about 10% to $25–26 on Thursday after news of a $1.5 billion power agreement with Babcock & Wilcox for an AI data center project. The deal includes plans for a 300-megawatt natural-gas plant slated for 2028. The stock is now up over 200% year-to-date amid heavy trading and recent financing headlines.