Overview

• Applied Digital raised $160 million through a private placement involving major investors, including Nvidia.
• The company's stock surged 76% after the announcement, with shares trading at $5.26.
• Funds will be used to expand data-center capacity and AI cloud-computing operations.
• Applied Digital is a preferred Nvidia Cloud Partner, leveraging Nvidia's GPU chips for accelerated computing.
• Despite the recent surge, Applied Digital's stock remains down 18% year-to-date.