DALLAS, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Applied Digital Corporation (NASDAQ:APLD) ("Applied Digital" or the "Company"), a designer, builder, and operator of next-generation digital infrastructure designed for High-Performance Computing (HPC) applications, today announced that it has entered into definitive agreements for a $160 million private placement financing priced at market, from a group of institutional and accredited investors, NVIDIA and Related Companies, the most prominent privately-owned real estate company and leader in complex infrastructure and data center development. This strategic financing underscores Applied Digital's position as a trusted pioneer in the accelerated compute space.

With this added capital, Applied Digital is further strengthening its financial position to bring its transformative data center and GPU cloud solutions to market at scale. These solutions, supported by the company's deep bench of hyperscale talent, specialized access to a robust and immediately available pipeline of stranded power, and use of advanced infrastructure technologies such as closed-loop liquid cooling, are poised to deliver a proprietary, purpose-built, hyper-efficient platform for the world's most advanced HPC and AI workloads. Among these projects are the company's current build-out of one of the world's largest data centers and development of an additional 300MW of data center capacity.

Applied Digital, already a Preferred NVIDIA Cloud Partner, remains on the leading edge of data center and cloud computing advancements.

As a leading digital infrastructure developer focused on keeping pace with GPU innovation delivered by leaders like NVIDIA, Applied Digital continues to establish its place as a singular source of significant scale, flexibility, security, and power in a traditionally constrained national market.

"Applied Digital was built on its ability to identify market demands, and we believe our collective philosophy, technical expertise, and long-standing ...