Why Applied Digital Shares Are Skyrocketing Today

Applied Digital Corp APLD shares are trading higher after the company disclosed bagging its second major AI customer with a deal of up to $460 million over 36 months.

"This agreement marks another milestone in APLD's HPC/AI Infrastructure growth trajectory as we continue to strategically expand our focus on artificial intelligence cloud services in addition to our next-generation datacenters. As the AI industry continues to grow at unprecedented levels, we continue to see extraordinary demand for our new cloud service as a result." said Wes Cummins, CEO, and Chairman.

Last month, APLD launched its AI Cloud services to offer high-performance computing power for AI applications, which includes extensive language model training and graphics rendering. 

Also, the company bagged its first major AI customer with a deal of up to $180 million over 24 months.

Price Action: APLD shares are up 15.90% at $11.21 on the last check Friday.