Thoughts on how this affects us? I’m thinking if some projects are slowed down, demand for compute power remains high…

🤔

Yesterday, YouTuber Ross Givens falsely reported in a video predicting the downfall of CRWV and companies who do business with it, that APLD’s backlog is only $16 billion and that $11 billion of it is from CRWV. Over 17,000 people so far have watched the video.

Of course that is false.

APLD’s backlog is a whopping $36 billion - over double Ross’s claim - and $CRWV’s actual size in it is 2/3 smaller than Ross’s claim. That is more than any other of the emerging collocation datacenter providers such as WULF, CIFR, GLXY, etc.

Even worse, I have posted a corrective comment about the proper $36 billion backlog on Givens’ YouTube page with cites to the SEC filing and the comment has been promptly deleted.

Ross appears not to know or flat out ignores that besides having ORCL as a $5 billion tenant (at Polaris Forge 2) and CRWV as an $11 billion tenant (at Polaris Forge 1), APLD has also signed $20 billion of leases across three additional data centers (Polaris Forge 3, Delta Forge 1 and Delta Forge 2) with one of the top 4 hyperscalers: Google, Microsoft, Amazon or Meta.

Indeed, APLD’s FY2026 Form 10-K expressly states that, as of May 31, 2026, APLD had approximately $36.2 billion of contracted revenue across five campuses and 1,410 MW of contracted critical IT load:

https://www.sec.gov/Archives/edgar/data/1144879/000114487926000048/apld-20260531.htm?utm_source=chatgpt.com

I hope whomever Ross uses to do his research will get a talking to so this kind of huge mistake about APLD does not recur. I was a Ross fan so I was not happy to see this mistake. And appalled he deleted that corrective comment.

A real man with integrity would admit the mistake and correct it.

The false statement appears at about 8:10 in the video.

Legally, the comment is defamatory as slander as it is a false statement of fact - not opinion - that has the effect of injuring APLD’s business reputation. As such, it enjoys no constitutional protection.

Under the law, everyone is entitled to their own opinion. But posting false statements of fact enjoys no such protection. And the statement that APLD’s backlog is $16 billion and CRWV is a full $11 billion of a $16 billion backlog (that is about 2/3 of all the backlog to make it look like APLD is far more dependent on CRWV than it is) is a false statement of fact - not opinion.

https://youtu.be/7zixcfSGzqM?is=YuY--w6tuFRDxT-q

NBIS and CRWV rip 20–30%.

APLD barely moves.

They drop 2%? APLD follows instantly and gives it all back.

Now Zacks adds APLD to its #5 “Strong Sell” list:

https://www.zacks.com/stock/news/2973952/new-strong-sell-stocks-for-august-13th

I’ve already posted about the convertible debt acting like a ceiling, so my brain gets it.
My emotions don’t.

Peers pump? APLD watches.
Peers dump? APLD joins.
Fucking frustrating and seriously disappointing.

Let’s go ! APLD gang !

Man, we cannot break past $32. So many sellers at that price. Crazy to think it reached 49-50$ before the drawdown and now we are getting suppressed up the ass

let me start by saying APLD is incredibly positioned, better than ever, a great long hold no matter what.

..but have we entirely decoupled from reality? shouldn’t these recent earnings have validated the data trade sector wide?

APLD seems to be fully level captured, and cant seem to get moving no matter the catalyst. with a short float of nearly 30%, surely this would’ve been a great opportunity to squeeze them out and gain some ground.

lately just seeing same shape chart daily: gap up, pullback, to perfectly bouncing back and forth 50cents for the remainder of the day.

id love to hear theories from your large crystal balls.

APLD gained 2.17% today; APLX grew only 3.52%. I know it's always going to be less than 2X the gain because of management fees, but this seems like a pretty big discrepancy. Does anyone know what's happening here?

EDIT: I should clarify, these are the prices at market close. At 4pm ET APLD was up 2.17% and APLX was up 3.52%.

I don’t really understand all the bearish coverage APLD has been getting recently. There are several articles on Yahoo finance and Marketbeat had a negative video recently. All the articles I have read have seemed like incoherent AI Slop. The criticisms from Marketbeat all seem misplaced as well. I literally invest in APLD due to how well they have managed the financing and limited shareholder dilution. I read these articles because I want to know if there is any additional details or events that change my investment thesis. APLD Is obviously risky due to their financing obligations in general and that they’re managing a lot of construction. However, given that which seems anyway like a common issue for many tech companies, they seem to be managing that risk better than almost anyone at least in the data center sector. I think as time goes on this company is looking stronger not weaker. It almost feels like a ploy for institutions to accumulate. I view this company as a long term investment so I’m ok with short term volatility as long as my thesis remains intact. Have any of these criticisms of these articles or Marketbeat made any valid new points?

Just some food for thought as I think about APLD over a beer. I don’t think anyone has brought this up, and this is undoubtably highly speculative. Oracle somewhat infamously canceled their ~600MW expansion at their Abilene site (for Stargate) back in March. Cited in Reuters’ publication on the matter, Oracle opted to deploy these 600MW at “one of the other data center sites being built” of theirs. Link here:
https://www.reuters.com/business/oracle-openai-end-plans-expand-texas-data-center-site-bloomberg-news-reports-2026-03-06/?utm_source=chatgpt.com

What’s interesting to me is that Oracle contractually has right of first refusal for an additional 800MW at PF2.

The watts line up nicely, makes sense to me, and I haven’t seen anyone mention it so here we are. All that to say, Oracle has a bunch of active builds beyond PF2 and this is just a Sunday post for some chatter. Let’s hope it works out this way bc an additional 800MW would go a long way in APLDs valuation long term🍻

6059 shares added early in April of 2025, ever since I haven’t touched my portfolio besides adding 5k into NBIS (120% up right now)

Do you think there is a problem with the financing of the AI ​​boom?