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Nvidia Stake Sends This AI Stock Higher Thursday
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Main points
- Shares of Applied Digital surged in after-hours trading Thursday after Nvidia announced its stake in the company.
- Nvidia held about 3% of Applied Digital as of September 30, according to filings with the U.S. Securities and Exchange Commission.
- Applied Digital is a provider of advanced digital infrastructure designed to support high-performance computing and artificial intelligence applications.
Applied Digital Corporation’s stock (APLD) In intraday trading Thursday, Nvidia (NVDA) reports the company’s shares.
The world’s largest companies are made up of Market value As of Sept. 30, it held about 7.7 million shares of Applied Digital, or about a 3% stake, according to one company. Securities and Exchange Commission Filed Thursday.
Applied Digital is a U.S.-based provider of advanced digital infrastructure designed to support high-performance computing and Artificial Intelligence Application.
In the fiscal first quarter ended Aug. 31, the company’s revenue grew 67% year over year and said it had secured $160 million in investment from institutions and institutions. accredited investor.
Nvidia is scheduled to report third-quarter results on Wednesday, November 20, after the bell.
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