Leopold Aschenbrenner’s Portfolio: 10 Best Stocks to Buy

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6. Applied Digital Corporation (NASDAQ:APLD)

Market value of shares owned: $320 Million

% of portfolio: 2.34%

Applied Digital Corporation (NASDAQ:APLD) is one of the 10 Best Stocks in Leopold Aschenbrenner’s Portfolio.

On May 15, 2026, Needham raised its price target on Applied Digital Corporation (NASDAQ:APLD) from $48 to $51. The firm’s analyst John Todaro maintained a Buy rating on the stock. The adjustment arrives after hosting its management team at the Needham Tech Conference. Needham expressed increased confidence in Applied Digital Corporation (NASDAQ:APLD)’s operational trajectory. In particular, the analyst research notes highlight the company’s ability to execute on its 1GW pipeline under construction, secure incremental hyperscaler leases at new sites, and successfully diversify its tenant mix toward investment-grade credit.

Previously, in a separate event, Applied Digital Corporation (NASDAQ:APLD) announced the closing of its previously disclosed transaction to contribute its cloud business to EKSO Bionics Holdings. It resulted in the splitting of its cloud unit into an independent public firm, ChronoScale (CHRN).  Currently trading on Nasdaq, ChronoScale operates as a GPU-based accelerated compute platform for heavy AI workloads. Applied Digital Corporation (NASDAQ:APLD) retains a 97% stake after receiving 138 million shares and investing $15.75 million in cash.

Founded in 2021, Applied Digital Corp (NASDAQ:APLD) builds and operates digital infrastructure for AI and computing companies in North America. Based in Texas, the company provides data centers and GPU computing solutions for businesses working in AI.

While we acknowledge the potential of APLD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than APLD and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the 5 Best Stocks in Leopold Aschenbrenner’s Portfolio.

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