Applied Digital, which provides data center help for crypto firms, gets $160 million investment, and the massive chip company is part of itA Dallas technology company just landed an investment from one of the most important players in the AI industry.
Applied Digital, which provides data center services for crypto and other demands, unveiled a $160 million private placement financing with investors that include NVIDIA, the fast-growing chip company,. The deal will help Applied Digital further strengthen its financial position and help bring key offerings and services to market at scale.Shares of the company rose more than 65% for the day as of 11:50 a.m. central time, according to Nasdaq.
“Applied Digital was built on its ability to identify market demands, and we believe our collective philosophy, technical expertise, and long-standing industry experience have brought us to our current place of strength that will carry us and our hyperscale customers securely into the AI and HPC future,” said Wes Cummins, CEO of Applied Digital, in a statement.