About Applied Digital Corporation - Common Stock (APLD)
Applied Digital Corp is a technology company that specializes in providing innovative solutions in the fields of cloud computing and digital infrastructure. The company focuses on delivering high-performance, scalable, and secure solutions for businesses, enabling them to leverage advanced technologies for their operations. With a commitment to fostering the growth of digital transformation, Applied Digital Corp offers a range of services, including data center management and support, which cater to the needs of various industries. Their mission is to empower organizations with the tools and resources necessary to thrive in a rapidly evolving digital landscape. Read More
CoreWeave Inc. (NASDAQ: CRWV) shares are trading higher Tuesday, extending gains after the company entered into a major long-term infrastructure agreement with Applied Digital Corp (NASDAQ:APLD).
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CoreWeave stock popped to a new all-time high on Tuesday. Nvidia-backed CoreWeave on Monday signed a long-term data center leasing deal with Applied Digital.
Applied Digital Corp (NASDAQ:APLD) shares are trading higher again on Tuesday on what appears to be continued momentum following the company's deal with CoreWeave Inc (NASDAQ:CRWV). Multiple analysts lifted price targets on the stock following the announcement.
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Shares of digital infrastructure provider Applied Digital (NASDAQ:APLD) jumped 51% in the afternoon session after it signed two long-term lease agreements for artificial intelligence data centers with Nvidia-backed AI hyperscaler CoreWeave. APLD is expected to deliver 250 megawatts (MW) of power for CoreWeave's AI and high-performance computing (HPC) infrastructure at its North Dakota data center campus.
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The agreements, each spanning roughly 15 years, will enable Applied Digital to deliver 250 megawatts of critical IT power to support CoreWeave’s AI and HPC systems at its data center complex in Ellendale, North Dakota.
Applied Digital Corp (NASDAQ:APLD) shares are trading higher Monday after the company announced long-term lease agreements with CoreWeave Inc (NASDAQ:CRWV).
Business services providers play a critical role for enterprises, assisting them with everything from new hardware integrations to consulting and marketing. But cutbacks in corporate spending and the threat of new AI products have kept sentiment in check,
and over the past six months, the industry has tumbled by 9%. This drawdown was worse than the S&P 500’s 1.9% decline.
