APLD vs CORZ Stock Comparison: AI Score, Valuation, Performance and Upside
Both Applied Digital and Core Scientific are converting bitcoin-mining-era data center capacity into AI and high-performance-computing hosting infrastructure, so the comparison largely centers on which company has more immediately leasable capacity, cleaner balance sheet positioning, and stronger long-term hosting contract terms. Core Scientific's larger near-term leasable capacity and post-restructuring balance sheet are often weighed against Applied Digital's development pipeline and growth trajectory.
Use this APLD vs CORZ comparison to evaluate execution speed and balance-sheet quality in the crypto-to-AI infrastructure conversion trade: both companies are racing to sign long-term AI/HPC hosting contracts on formerly bitcoin-mining-oriented capacity, and relative capital discipline is a key differentiator.
APLD holds the edge across 3 of 5 key metrics in this comparison. APLD has delivered stronger 1-year price return (+52.65% vs +15.05%), though CORZ has the better forward P/E setup (117.93x vs -101.36x for APLD). On fundamentals, APLD is growing revenue faster (406.60%), while CORZ maintains the higher operating margin (6.87%) — a classic growth-versus-profitability split. Analyst consensus implies meaningfully more upside for APLD (+192.93%) than for CORZ (+124.86%).
- Believe Applied Digital's development pipeline offers longer-term capacity growth
- Want exposure to the AI data center leasing theme with a smaller, higher-beta name
- Are comfortable funding growth ahead of fully signed revenue contracts
- Can tolerate execution risk in converting hosting capacity to AI/HPC-grade infrastructure
- Value larger, more immediately leasable power capacity relative to peers
- See benefit in a post-bankruptcy, reset balance sheet
- Want exposure to already-signed long-term AI/HPC hosting contracts
- Are comfortable with lingering legacy bitcoin mining exposure in the business mix
| Metric | APLD | CORZ |
|---|---|---|
| AI score | 53.4 | 46.3 |
| AI rank | #284 | #639 |
| Latest close | $25.34 | $16.51 |
| 1M return | +9.13% | -8.89% |
| 6M return | -11.55% | -8.18% |
| 1Y return | +52.65% | +15.05% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | APLD | CORZ |
|---|---|---|
| 1Y ago | $15.27K (+52.7%) started 2025-08-28 | $11.51K (+15.1%) started 2025-08-28 |
| 5Y ago | $52.25K (+422.5%) started 2022-04-13 | $47.99K (+379.9%) started 2024-01-24 |
| 10Y ago | $52.25K (+422.5%) started 2022-04-13 | $47.99K (+379.9%) started 2024-01-24 |
Hypothetical — past performance does not guarantee future results.
| Metric | APLD | CORZ |
|---|---|---|
| Market cap | $7.2B | $5.31B |
| Trailing P/E | N/A | N/A |
| Forward P/E | -101.36 | 117.93 |
| Price/Sales | 11.78 | 12.05 |
| EV/Revenue | 21.14 | 18.04 |
| Analyst target | $74.23 | $37.13 |
| Target upside | +192.93% | +124.86% |
| Metric | APLD | CORZ |
|---|---|---|
| Revenue growth | 406.60% | 108.80% |
| Earnings growth | N/A | N/A |
| EPS growth | N/A | N/A |
| FCF margin | -811.61% | +105.57% |
| Operating margin | -48.22% | 6.87% |
| Profit margin | -39.91% | 0.00% |
| ROIC proxy | -8.38% | N/A |
| Return on equity | -8.38% | N/A |
| Dividend yield | 0.00% | 0.00% |
| Beta | 5.77 | 5.59 |
| Debt/equity | 136.23 | N/A |
| Current ratio | 4.01 | 0.89 |
| Quick ratio | 1.42 | 0.65 |
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | APLD | CORZ |
|---|---|---|---|
| 1Y | Growth | +52.65% | +15.05% |
| CAGR | +52.69% | +15.06% | |
| Sharpe ratio | 0.87 | 0.49 | |
| Max drawdown | 53.23% | 43.38% | |
| Max daily drop | 17.52% | 12.65% | |
| Max wkly drop | 29.01% | 26.37% | |
| 5Y | Growth | +422.47% | +379.94% |
| CAGR | +45.92% | +83.12% | |
| Sharpe ratio | 0.88 | 1.08 | |
| Max drawdown | 81.89% | 64.95% | |
| Max daily drop | 52.55% | 29.41% | |
| Max wkly drop | 74.62% | 30.50% | |
| 10Y | Growth | +422.47% | +379.94% |
| CAGR | +45.92% | +83.12% | |
| Sharpe ratio | 0.88 | 1.08 | |
| Max drawdown | 81.89% | 64.95% | |
| Max daily drop | 52.55% | 29.41% | |
| Max wkly drop | 74.62% | 30.50% |
| Category | APLD | CORZ |
|---|---|---|
| Company | Applied Digital Corporation | Core Scientific, Inc. |
| Sector | Data Center Infrastructure | Data Center Infrastructure |
| Industry | N/A | N/A |
| Core business | Applied Digital builds and operates data center campuses originally focused on bitcoin mining hosting that it has been repositioning toward high-performance computing and AI cloud infrastructure leasing. | Core Scientific operates large-scale data center capacity, originally built for bitcoin mining, that it has been converting toward high-performance computing and AI hosting through long-term colocation contracts. |
| Investor focus | Investors watch Applied Digital's transition from crypto-hosting toward long-term AI/HPC leasing contracts, capital needs to fund new campus buildouts, and lease signing pace with hyperscale or AI cloud tenants. | Investors focus on Core Scientific's immediately leasable power capacity, the pace and terms of its AI/HPC hosting contracts, and its balance sheet following emergence from bankruptcy restructuring. |
- Repositioning toward long-term AI/HPC leasing contracts with potentially more stable revenue
- Development pipeline of large-scale data center campuses in power-advantaged regions
- Rising investor interest in digital infrastructure names amid the broader AI buildout
- Larger, more immediately leasable power capacity than some peers according to industry comparisons
- Established long-term AI/HPC hosting contracts providing revenue visibility
- Emerged from Chapter 11 restructuring with a reset balance sheet
- Substantial capital requirements to build out campuses ahead of signed revenue
- Execution risk in converting crypto-hosting capacity to AI/HPC-grade infrastructure
- Competitive pressure from larger, better-capitalized data center operators for the same tenants
- Legacy ties to bitcoin mining economics still influence part of the business
- Contract concentration risk if a small number of large hosting customers dominate revenue
- Competitive capital-intensive buildout race against other converting crypto-to-AI infrastructure players
Want deeper AI forecasts?
This comparison page is public and free forever. Subscribers can unlock saved watchlists, full AI rankings, detailed forecasts, and interactive analysis tools.