11 AI News and Ratings on Investors’ Radar

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8. Applied Digital Corporation (NASDAQ:APLD)

Number of Hedge Fund Holders: 26

Applied Digital Corporation (NASDAQ:APLD) provides digital infrastructure, cloud services, and high-performance computing solutions, supporting AI, machine learning, and crypto mining across North America.

On February 12, Applied Digital Corporation announced that it secured $375 million in financing through its HPC subsidiary, APLD HPC Holdings LLC, with SMBC. The funds were partly used to pay off its Macquarie Capital senior secured note, with the rest allocated to developing two data center buildings at the Ellendale HPC Campus. CFO Saidal Mohmand expressed the company’s plans to replace the SMBC loan with permanent project financing once a hyperscaler lease is secured. SMBC’s Nick Donias highlighted the importance of the partnership in supporting Applied Digital’s hyperscale data center expansion. Northland Capital, Milbank, Lowenstein Sandler, and Paul Hastings endorsed the transaction.

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