Applied Digital (APLD +8.49%), a purveyor of digital real estate for the increasingly demanding gods of Artificial Intelligence, closed Friday at $37.69. A modest ascent, one might say, were it not for the sheer, almost frantic, demand for space within their burgeoning “AI Factories.” It’s a curious thing, this hunger for silicon and electricity. One suspects even Behemoth himself couldn’t quite calculate the appetite.
Trading volume, a rather vulgar metric, reached 47.5 million shares. A flurry of activity, 52% above the recent, anemic average. The company, a relative newcomer, IPO’d in 2022, and has since experienced a growth exceeding 700%. One begins to wonder if they’ve stumbled upon some forgotten alchemical formula, or simply managed to convince the market that they’re selling not data centers, but dreams.
A Day of Static
The broader market, as is its wont, barely stirred. The S&P 500 (^GSPC +0.03%) and the Nasdaq Composite (^IXIC +0.28%) engaged in a languid dance, gaining a negligible 0.03% and 0.28% respectively. Such tranquility. One almost expects a chorus of angels to descend, offering investment advice.
Within the cloud computing and data analytics sector, Core Scientific (CORZ +3.93%) managed a respectable, if unremarkable, climb of 3.93%, closing at $18.79. Digital Realty Trust (DLR +0.28%) eked out a gain of 0.45%, settling at $159.16. A quiet confirmation, perhaps, that interest in these digital cathedrals remains…steady. Though one suspects the truly discerning investor is seeking something more substantial than mere steadiness.
The Illusion of Progress
Applied Digital’s recent surge follows a year of extraordinary gains – over 300%, if one is inclined to believe the numbers. Even the usually boisterous Jim Cramer, that oracle of the television screen, urged investors to take profits. A curious suggestion, that. As if one could simply capture such momentum. It’s like trying to bottle smoke, or convince a bureaucrat of logic.
Yesterday’s announcement of the groundbreaking for Delta Forge 1, a 430MW AI factory in some unspecified Southern state, appears to have been the catalyst. Due to commence operations in mid-2027, it promises…what, exactly? More data? More algorithms? More efficient ways to distract ourselves from the fundamental absurdity of existence? The details are, as always, shrouded in a pleasing mist.
Texas Capital, in a display of either remarkable foresight or desperate optimism, upgraded the stock to “Strong Buy.” Roth Capital and Needham, predictably, reiterated their “Buy” ratings. The chorus swells. One wonders if anyone is actually reading the reports, or simply repeating the approved narrative.
The market, dear reader, is a labyrinth. And Applied Digital, for all its promise, is merely another corridor. Proceed with caution. Or, better yet, find a quiet garden and contemplate the folly of it all.
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2026-01-24 02:12