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"Nvidia And Other Investors Back Applied Digital With $160M In Funding; Capital Is Expected To Help Data-Center And AI Cloud Company Grow" - WSJ

Author: Benzinga Newsdesk | September 05, 2024 08:32am

https://www.wsj.com/tech/ai/nvidia-and-other-investors-back-applied-digital-with-160-million-in-funding-76157532?mod=latest_headlines

 

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.

Posted In: APLD NVDA

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