CEO of U.S. AI Data Center Company Sells Millions in Shares, Board Members Follow Suit

Applied Digital Corp. (APLD) CEO Wes Cummins sold roughly 160,000 shares of common stock on the open market around January 16, 2026, generating about $6 million (approximately ₩8 billion) in cash, while still maintaining aligned interests through direct and indirect holdings amounting to tens of millions of shares and a substantial portfolio of restricted stock units. In the same month, board members each sold tens of thousands of shares, realizing about $2 million (around ₩2 billion) in cash; filings show they all retain significant remaining stakes.

In its fiscal 2026 second-quarter earnings release, Applied Digital reported that revenue nearly tripled year-over-year and announced ongoing negotiations to finalize a lease agreement with an investment-grade hyperscaler for up to 900 MW of new power capacity, targeting early 2026 for signing. Additionally, in 2025 the company successfully closed large-scale financing deals with Macquarie Asset Management and Japan’s SMBC, securing the capital needed for its HPC campus near Island II, North Dakota, and the Polaris Point AI Factory development. (barrons.com)

Headquartered in Dallas, Texas, Applied Digital is a next-generation data center and high-performance computing infrastructure company that designs, builds, and operates large-scale data centers and “AI factory” campuses for AI, cloud, and blockchain workloads. Its core strategy is to develop campuses with extensive power and cooling infrastructure in regions with favorable energy conditions—such as North Dakota—and to secure long-term lease agreements with U.S. investment-grade hyperscalers. (globenewswire.com)