Revenue growth has been ramping up as hyperscalers invest more into AI data centers.

Applied Digital ( APLD 7.76% ) was up big last Friday after a strong earnings report with $64 million in revenue (up 84% year over year). Its share price climbed 16% that day and has increased by 345% on the year.

As a builder of artificial intelligence (AI) data centers, Applied Digital's services are in high demand. The increase in share price reflects that to an extent, but there's one important reason why Applied Digital stock could continue to outperform the market.

Applied Digital is carving out a crucial role in the AI boom

Hyperscalers are investing heavily in AI data centers to meet the computing and power needs that AI technology demands. Tech companies spent $430 billion on data c

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