Mentioned:
One of the largest asset management companies in the world is ramping up their exposure to data centres. And they’re patterning with a publicly traded company to do it.
What’s happening:
- Applied Digital (NASDAQ: APLD) has entered into a deal with Macquarie Asset Management for up to $5B USD in investment to accelerate the build out of new data centres for high performance computing
By the numbers:
- Macquarie Asset Management will immediately invest $900M USD into Applied Digital’s Ellendale data centre campus
- $4.1B USD will be available to Applied Digital for future projects and new build outs
- Macquarie Asset Management will now own 15% of Applied Digital's common equity
Why it matters:
- This is one of the largest investments ever into publicly traded data centre operator, which closely follows record breaking funding commitments for data centres from technology giants such as Microsoft (NASDAQ: MSFT)
Going deeper:
- This is not the first time Applied Digital has landed a highly significant investor, with Nvidia (NASDAQ: NVDA) previously leading an equity financing round
