Sep 1, 2026 6:18 PM
Applied Digital founder & CEO Wes Cummins joins Roundtable: from Bitcoin data centers to AI factories, $36B in contracted revenue, chip obsolescence risk, direct-to-chip liquid cooling, the power bottleneck, and the data center backlash.
0:00 What Applied Digital is today
2:58 From investor to founder: the mindset edge
6:19 The franchise model: scaling identical builds
9:57 Chip lifetime & who bears obsolescence risk
13:10 Inside the balance sheet: $36B contracted revenue
18:00 Why each campus is its own subsidiary
19:54 Direct-to-chip liquid cooling, explained
25:02 The real bottleneck: power, transformers & NIMBYs
27:14 What happens to Bitcoin mining
29:16 The data center backlash & the community
35:18 Applied Digital in 2030
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