Applied Digital's Stock Skyrockets 76% Following $160M Investment Led by Nvidia

The funding will support the expansion of data centers and AI cloud infrastructure, solidifying Applied Digital's role in the accelerated computing sector.

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.