12 Best Artificial Intelligence Stocks To Invest In Under $10

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2. Applied Digital Corp. (NASDAQ:APLD)

Share Price as of November 27: $9.74

Number of Hedge Fund Holders: 26

Applied Digital Corp. (NASDAQ:APLD) provides digital infrastructure solutions and cloud services for high-performance computing and AI industries. It offers data center hosting, GPU computing solutions, and HPC hosting services to support various applications, including cryptocurrency mining and AI workloads.

The company continues expanding its high-performance cloud computing business, specifically designed to power demanding AI applications. Its focus on AI-driven solutions has fueled significant growth, as evidenced by the fulfillment of existing contracts and the pursuit of new opportunities. As of the end of the first quarter of fiscal 2025, Applied Digital Corp. (NASDAQ:APLD) had 6 AI clusters operational, demonstrating its commitment to providing scalable and powerful computing infrastructure.

Applied Digital Corp. (NASDAQ:APLD) has made substantial progress in optimizing its financial structure. The company is amending the lease financing for its GPUs, which is expected to be finalized in the current quarter. This amendment will allow for the amortization of GPU value over its useful life, significantly improving financial reporting and aligning it with the long-term economics of the business.

The recent investment round has elevated its visibility in the market, attracting attention to its innovative cloud solutions. The company plans to deploy additional AI clusters starting in the second half of its fiscal year 2025, further solidifying its position as a leading provider of AI-powered cloud services.

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