7 Hidden Multibagger Stocks to Invest In

3. Applied Digital Corporation (NASDAQ:APLD)

Price Return over 1-Year: 192.6%

Potential Upside: 62.36%

Number of Hedge Fund Holders: 38

On Dec. 2, APLD announced that it was an investor in Corintis’s $25 million funding round. Corintis is a Switzerland-based company that develops advanced cooling systems for regulating the temperature of chips used in data centers, for instance. With APLD at the forefront of data center infrastructure, access to such technology could give it an edge over competitors.

The CEO of APLD, Wes Cummins, echoed a similar sentiment on the occasion. He stated:

“As a category leader in high-performance AI Factories, Applied Digital is further accelerating its leadership position through strategic investments in technologies that will set the industry’s pace and define the future.”

The company’s management remains bullish on AI. The most significant driver of this bullish sentiment is the expected investment by hyperscalers, which could exceed $250 billion in 2025, according to APLD’s October 2025 investor presentation. The global data center demand, which stood at 55GW two years ago, is expected to go beyond 219GW by 2030.

APLD has taken several initiatives to address this demand. One of these is the Polaris Forge 1 campus in North Dakota. The first building has already come online, with the remaining two buildings scheduled for delivery in the second half of 2026 and 2027, respectively.

Applied Digital builds and operates data centers for AI, blockchain, and cloud-related workloads. The company is headquartered in Dallas, Texas, and was awarded the ‘Best Data Center in the Americas 2025’ award by Datacloud.