Applied Digital announces $160M strategic financing from Nvidia, other investors

Applied Digital (APLD) announced that it has entered into definitive agreements for a $160M private placement financing priced at market, from a group of institutional and accredited investors, NVIDIA (NVDA) and Related Companies, which it calls “the most prominent privately-owned real estate company and leader in complex infrastructure and data center development.” Applied stated: “This strategic financing underscores Applied Digital’s position as a trusted pioneer in the accelerated compute space. With this added capital, Applied Digital is further strengthening its financial position to bring its transformative data center and GPU cloud solutions to market at scale. These solutions – supported by the company’s deep bench of hyperscale talent, specialized access to a robust and immediately available pipeline of stranded power, and use of advanced infrastructure technologies such as closed-loop liquid cooling – are poised to deliver a proprietary, purpose-built, hyper-efficient platform for the world’s most advanced HPC and AI workloads. Among these projects are the company’s current build-out of one of the world’s largest data centers and development of an additional 300MW of data center capacity.”