Stock Track | APPLIED DIGITAL CORP (APLD) Soars 5.02% on Growth in AI-Powered Cloud Services

Stock Track

2024-12-04

APPLIED DIGITAL CORP (NASDAQ: APLD) shares surged 5.02% in intraday trading on Wednesday, as the company's focus on expanding its high-performance cloud computing and AI-driven solutions fueled investor enthusiasm.

Applied Digital Corp. is a leading provider of digital infrastructure solutions and cloud services, specializing in high-performance computing (HPC) and AI. The company has made significant strides in powering AI applications, with six operational AI clusters as of the end of the first quarter of fiscal year 2025.

The company's strategic investments in AI-driven solutions have fueled substantial growth, driven by the successful fulfillment of existing contracts and the pursuit of new opportunities. Applied Digital Corp. plans to deploy additional AI clusters starting in the second half of fiscal year 2025, solidifying its position as a leading provider of AI-powered cloud services.

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