Shares of 10 Firms Soar on Friday

5. Applied Digital Corp. (NASDAQ:APLD)

Applied Digital saw its share prices surge by 15.17 percent on Friday to end at $9.11 apiece following news that the company raised $375 million in fresh funds from Sumitomo Mitsui Banking Corp. for the development of its Ellendale campus in North Dakota.

According to APLD, part of the proceeds will be used for repaying its existing obligations under Macquarie capital senior secured notes, which saw the latter investing $5 billion in APLD’s AI data center business last month.

The remainder of the proceeds would be used for the development of the campus’ first and second buildings.

The Ellendale campus is one of APLD’s major milestones which began construction in 2022. The facility currently houses the 180MW ELN01 for hosting crypto mining hardware and the 100MW ELN02 for high-performance computing (HPC). Two other buildings dedicated to HPC are expected to be completed over the next few years, totaling 300 MW.