Contract NegotiationsApplied noted good progress on its LOI and contract negotiations with the large hyperscaler for up to 400 MW of capacity, with technical and site diligence completed.
Revenue GrowthThe AI Cloud segment ramped meaningfully in the quarter, generating $16.8 million in revenue, which was up from $5.6 million in Q3.
Strategic PartnershipsThe investment by Related Companies, a major real estate player, is a significant step in the right direction for the company's AI infrastructure space.