Key Takeaways APLD signed $7B, 15-year AI leases with CoreWeave, solidifying its shift from crypto to HPC infrastructure.APLDs Cloud Services revenues surged 220$261M cash and $5B in committed capital, but reliance on CoreWeave creates concentration risk.Applied Digital (APLD) has firmly pivoted from its crypto-heavy legacy into AI-focused infrastructure, betting on a future dominated by high-performance computing demand. The company’s re ...