Shares of Applied Digital (APLD) soared on Tuesday following the announcement that Macquarie Asset Management would invest up to $5 billion in the company’s high-performance computing (HPC) data centers. The deal marks a significant step in the expansion of Applied Digital’s advanced infrastructure, which supports high-performance computing and artificial intelligence (AI) applications.
Macquarie’s investment includes an initial $900 million allocation to the company’s Ellendale HPC data center campus in North Dakota. Additionally, the Australian fund manager has the option to invest up to $4.1 billion across Applied Digital’s upcoming HPC projects. As part of the agreement, Macquarie will acquire a 15% equity stake in Applied Digital’s HPC business, while the company will retain the remaining 85%.
This deal follows Nvidia’s earlier investment in Applied Digital’s data centers. The prominent chip maker had announced its own stake in the company in 2024, further solidifying Applied Digital’s position in the rapidly growing AI and digital infrastructure sectors.
In response to the news, Applied Digital’s stock rose by 16%, reaching $9.05 in intraday trading. The company’s shares have increased by 20% over the past year, reflecting investor confidence in its long-term growth potential.
The company is set to report its second-quarter fiscal 2025 earnings later today, adding further anticipation to the market’s optimism surrounding its future prospects.
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