Applied Digital vs. TeraWulf: Which AI Data Center Stock Is the Better Buy?

Applied Digital and TeraWulf are competing AI data center stocks benefiting from the AI boom. Applied Digital has more contracted power capacity (1.4 gigawatts vs. 839 megawatts), a larger pipeline (3 gigawatts vs. 2.1 gigawatts), higher revenue, and lower losses. Despite these advantages, both companies have similar market caps (~$7.8-7.9 billion), making Applied Digital the better value pick for investors.