Applied Digital's pre-market surge exceeded 4%, with filings showing that nvidia holds about 3% of the company's shares. The company focuses on the design and operation of datacenters, aiming to support high-performance computing and ai applications, with first-quarter revenue increasing by 67% year-on-year.
Backed by nvidia,$Applied Digital (APLD.US)$Surging over 4% in pre-market.
According to the latest filings from the U.S. Securities and Exchange Commission (SEC), as of September 30, Nvidia holds approximately 7.7 million shares of Applied Digital, accounting for about 3% of its shares.
Applied Digital focuses on designing and operating datacenters, providing digital infrastructure solutions to support high-performance computing (HPC) and artificial intelligence (AI) applications. The company has shown significant profit growth this year, with a 67% year-on-year increase in revenue for the first quarter. The company has also successfully secured a $0.16 billion investment from institutions and qualified investors.
As early as September 5th this year, when news of Nvidia's investment emerged, Applied Digital's stock price once surged by 66%, reaching its highest point in over a month. At that time, reports indicated that Applied Digital would receive a $0.16 billion financing from multiple investors including Nvidia, with other investors including private real estate company Related Companies.
Nvidia's investment undoubtedly brought greater market attention and potential opportunities to Applied Digital. With the rapid development of AI technology, the demand for high-performance computing infrastructure by enterprises will continue to grow, and Applied Digital is poised to benefit from this trend.
Furthermore, Nvidia plans to announce its third-quarter financial results after the market closes on November 20. Investors will closely monitor the company's latest developments and financial performance in the AI and high-performance computing markets.
Editor/ping