Mentioned:
Applied Digital has been raising capital at a feverish pace for high performance computing. And they aren’t showing any signs of slowing down yet, either.
What’s happening:
- Applied Digital (NASDAQ: APLD) has successfully raised $375M USD in a new debt financing round
- The funding round was led by Japanese financial giant Sumitomo Mitsui Banking Corporation
Why it matters:
- The new capital will go towards Applied Digital building out their leading edge data centre campus located in North Dakota, which is being purpose built for doing a large scale deal with a hyperscaler for artificial intelligence workloads
Going deeper:
- Applied Digital has been cutting a flurry of new financing deals lately, previously inking a multi billion dollar deal with Macquarie Asset Management to accelerate the build out of more artificial intelligence infrastructure
