Stock Track | Applied Digital Soars Over 5% in Pre-Market as Nvidia Takes 3% Stake

Stock Track11-15

Shares of Applied Digital Corp (APLD) surged more than 5% in pre-market trading on Friday, following reports that Nvidia (NVDA), the world's largest company by market capitalization, has taken a roughly 3% stake in the AI infrastructure provider.

According to a filing with the Securities and Exchange Commission, Nvidia held approximately 7.7 million shares of Applied Digital as of September 30th. The investment underscores Nvidia's commitment to advancing artificial intelligence and high-performance computing capabilities, areas in which Applied Digital specializes.

Applied Digital is a U.S.-based company that provides advanced digital infrastructure designed to support AI and high-performance computing applications. The company recently reported a 67% year-over-year increase in revenue for its fiscal first quarter ended August 31st, and secured a $160 million investment from institutional and accredited investors, highlighting its strong growth trajectory.

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