Applied Digital Secures $100 Million Macquarie Facility, Shares Rebound on Expansion Talks
The financing targets pre-lease builds during a period of intense scrutiny over AI data-center funding.
Overview
- Applied Digital’s APLD DevCo entered a $100 million loan facility with Macquarie’s Commodities and Global Markets unit to fund pre-lease development of new data-center projects.
- The stock rose 8.6% to $23.90 on Thursday after the financing disclosure, following a 9.2% slide on Wednesday tied to broader AI funding concerns after Blue Owl exited support for an Oracle project that Oracle says remains on track.
- The company said it is in advanced negotiations with an investment-grade hyperscaler for potential leases covering multiple campuses.
- CEO Wes Cummins said Applied Digital is negotiating for two or three additional campuses, with the structure of those deals not yet specified.
- Management said the facility is intended to speed site readiness while preserving capital flexibility, and the company cites $16 billion in multi-year partnerships including $11 billion with CoreWeave.