In Q3 2024, Applied Digital Corporation (APLD) reported a significant increase in revenue, driven by an expanding capacity in its data center hosting and cloud services business. Revenue reached $43.3 million, a 207.65% year-over-year increase. However, the company faced operational challenges, particularly with power outages at its Ellendale facility, leading to a net loss of $62.8 million. Despite these setbacks, management highlighted the ongoing development of new customer relationships, including a contract with a US-based hyperscaler for 400 megawatts of capacity. This situates APLD as a key player in the high-performance computing space, fostering growth even amid adversity.