As of Q2'26 (2025-11-30), APLD reported Cash & Short-term Investments of 1.91B USD and Debt of 2.61B USD. This marks a significant increase in both cash and debt compared to previous quarters, with cash rising sharply from 73.91M USD in Q1'26 and debt increasing from 700.21M USD in the same period. Over the period from Q3'23 to Q2'26, both cash and debt levels for APLD have shown considerable volatility, with notable spikes in Q2'25 and especially in Q2'26. While cash holdings fluctuated with periods of both steep declines and rapid growth, debt has generally trended upward, accelerating particularly after Q3'24. The latest quarter reflects the largest single-quarter increases in both cash and debt, suggesting major financing or operational activities during this time frame.