Applied Digital (NASDAQ: APLD) has raised $160 million in strategic financing, with backing from notable investors like NVIDIA and Related Companies. This significant capital infusion is set to propel Applied Digital’s data center expansion, focused on high-performance computing (HPC) and AI workloads. By leveraging NVIDIA’s GPU technologies, the company is positioning itself as a leader in accelerated compute solutions.

The funding was raised through the issuance of nearly 50 million shares at $3.24 per share, reflecting the closing price before the announcement. This move strengthens Applied Digital’s financial standing and fuels its growth plans, particularly in constructing new data centers and expanding cloud infrastructure.​

These facilities will cater to advanced AI and HPC demands, marking a shift toward AI-driven markets, even as the company continues its significant involvement in bitcoin mining.

CEO Wes Cummins expressed excitement about the new chapter, highlighting Applied Digital’s ability to address the growing needs of the compute industry. The company has long-standing expertise in creating scalable, liquid-cooled environments that support both AI and crypto mining operations​.

Bitcoin Versus is not a financial advisor. This media platform reports on financial subjects purely for informational and entertainment purposes.