Roth MKM keeps a Buy rating and $10 price target on Applied Digital, saying the company’s upside potential remains strong as financials have stabilized in BTC and AI Cloud. The potential to secure 400MW in HPC – high performance computing – capacity offers significant growth potential that could lead to similar future agreements and a more strategic approach to future sites, while its business could approach $500M in annual adjusted EBITDA at scale, the analyst tells investors in a research note.
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