Applied Digital (APLD) Announces $160 Million Strategic Financing from Accredited Investors, NVIDIA

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Go back to Applied Digital (APLD) Announces $160 Million Strategic Financing from Accredited Investors, NVIDIA

Applied Digital stock soars 50% after raising $160m from Nvidia, other investors - WSJ

September 5, 2024 9:10 AM EDT

Data center operator Applied Digital (NASDAQ: APLD) raised $160 million in a funding round, the Wall Street Journal reported Thursday. The companys CEO Wes Cummins revealed that Nvidia (NASDAQ: NVDA) and real estate firm Related Companies are among the participating investors.

The capital infusion will come from a new share offering by the Nasdaq-listed firm, which had a market valuation exceeding $500... More