24/7 Market News- Applied Digital Moving on Report of $160 M Funding from Nvidia and Other Investors
DENVER, Colo., Sep 05, 2024 (247marketnews.com)- Applied Digital Corporation (NASDAQ: APLD) is trading higher following a Wall Street Journal report that stated, “Artificial-intelligence chip giant Nvidia is joining other investors in a $160 million financing round for Applied Digital a company that operates data centers and is building a business leasing out computing power for AI. Investors in the deal include Nvidia and real-estate firm Related Companies, Applied Digital Chief Executive Wes Cummins said. The deal will bring in capital for Applied Digital via a purchase of new shares from the Nasdaq-listed company, which had a market value of more than $500 million as of Wednesday’s close.”
MoBot alerted Applied Digital this morning at $4.043.
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