Stock Track | APPLIED DIGITAL CORP Soars 7.73% in Pre-Market on Nvidia Taking Significant Stake

Stock Track11-15

APPLIED DIGITAL CORP (APLD) shares surged 7.73% in pre-market trading on Friday, following a report 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 CORP as of September 30th. The investment underscores Nvidia's commitment to advancing artificial intelligence and high-performance computing capabilities.

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

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