Applied Digital Corporation shares rise 19.04% premarket after topping quarterly revenue estimates on demand for cloud services.

Applied Digital Corporation rose 19.04% in premarket trading, driven by the company's positive earnings report for the fiscal fourth quarter and full year ended May 31, 2025. The company exceeded quarterly revenue estimates due to high demand for cloud services. Additionally, the company provided an operational update and classified its Cloud Services Business as discontinued operations in its consolidated financial statements.