| | | | | | | | | | | | | | | | | | | | | | | | | | |
| Name of Subsidiary | Jurisdiction of Organization | Percent Owned |
| APLD Hosting, LLC | Nevada | 100% |
| 1.21 Gigawatts, LLC | Delaware | 100% |
| APLD Rattlesnake Den I LLC | Delaware | 100% |
| APLD Rattlesnake Den II LLC | Delaware | 100% |
| APLD - JTND Phase II, LLC | Delaware | 100% |
| APLD ELN-01 LLC | Nevada | 100% |
| Applied Talent Resources LLC | Nevada | 100% |
| APLD GPU-01 LLC | Delaware | 100% |
| APLD HPC-01 LLC | Delaware | 100% |
| Sai Computing Holdings LLC | Delaware | 100% |
| Sai Computing LLC | Delaware | 100% |
| Sai - Foundry Computing LLC | Delaware | 98% |
| Highland Digital Holdings LLC | Delaware | 50% |
| Applied Digital Cloud Corporation | Nevada | 100% |