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AI-generated source summary

Applied Digital's stock has fallen from $34 to $23, a 32% decrease. However, year-to-date, the stock is up 199%. There are 600 megawatts locked in, with a potential long-term revenue of $16 billion. A $2.35 billion financing deal could be a boon or become a liability. Currently, this compute-as-a-service business is building the digital foundation to enable modern AI by designing next generation data centers that make large-scale computing faster, cleaner and more efficient. In 2020, the company was mining Bitcoin, today, with CoreWeave and other high performance computing contracts, there are an estimated $1.1 billion in potential annual recurring revenue. The analyst average is strong buy, which has a high target price of $56, so the company has as much as 143% upside potential. Liquidity is tight as the current ratio is 0.65. The key to success for the company will be flawless execution.

AI-generated summary based on the source content.