Hello AI News Readers!

We are excited to bring you this special edition of our newsletter to inform you about an exciting development from one of the people and companies I interviewed earlier this year, Wes Cummins, Founder & CEO of Applied Digital. This is a huge deal, not only for Applied Digital, but for the AI and technology worlds. I hope you enjoy the article!

— Alicia

Applied Digital Secures $160M for AI-Driven Sustainable Data Centers

Thursday, Applied Digital shares surged nearly 65%, marking the highest level in over a month after the company announced securing $160 million in financing. This significant funding round comes from a group of institutional investors, notably including Nvidia, a leader in AI hardware, and Related Companies, a major real estate firm known for infrastructure and data center development. The backing from Nvidia further solidifies Applied Digital’s role as a key player in the AI infrastructure space.

Applied Digital, renowned for its state-of-the-art data centers, specializes in providing digital infrastructure solutions that support businesses adopting generative AI technologies. This funding deal shows renewed investor confidence in Applied Digital's ability to scale its AI-driven solutions and become a crucial player in the AI revolution.

The financing deal involves the issuance of approximately 49 million shares at $3.24 each (the company’s closing price on September 4). The capital injection will help Applied Digital accelerate the build-out of its high-performance computing (HPC) and AI infrastructure.

A Personal Connection to Wes Cummins and Applied Digital

Back in March, I had the privilege of interviewing Wes Cummins, Founder and CEO of Applied Digital, for AiNews.com. This was my very first interview, and Wes immediately impressed me with his vision of powering AI through sustainable, cutting-edge data centers. What struck me most was his dedication to ensuring these centers are not only highly scalable but also environmentally responsible, making use of renewable energy sources.

As I told Wes, "It’s amazing to see your vision for a completely sustainable data center come true—it’s a huge advancement in AI and technology." The fact that Applied Digital is developing these innovative facilities in the United States makes the achievement even more significant, especially as AI demands continue to grow at a rapid pace. You can watch the full interview here. 

What the $160 Million Funding Means for Applied Digital’s Future

This new funding from Nvidia and other investors will enable Applied Digital to push its AI infrastructure initiatives to the next level. Nvidia’s backing is particularly noteworthy as the company is a leader in producing GPUs—the hardware powering most AI and machine learning applications today. The fact that Nvidia chose to invest in Applied Digital is a clear endorsement of its cutting-edge approach to data center technology.

Applied Digital’s next-generation data centers are purpose-built for AI workloads, featuring advanced liquid cooling systems for optimal efficiency, scalability, and sustainability. With this new funding, Applied Digital will continue to expand its infrastructure, including the construction of one of the largest data centers in the world and the development of an additional 300MW of capacity.

The company’s proprietary infrastructure solutions, coupled with Nvidia’s technology and support, will allow Applied Digital to deliver groundbreaking performance for AI, HPC, and GPU cloud services. Their focus on high-performance computing and sustainable design positions them as a key player in the growing AI infrastructure market.

A Trusted Partner in AI and HPC Infrastructure

Wes Cummins and his team at Applied Digital have consistently shown they are ahead of the curve when it comes to the needs of the AI industry. Their ability to innovate in response to the evolving demands of AI and HPC workloads has earned them the trust of major players like Nvidia. This strategic partnership strengthens their position as a leader in providing infrastructure for AI applications, helping businesses scale with confidence.

About Applied Digital

Applied Digital (Nasdaq: APLD) is leading the AI infrastructure revolution by designing, developing, and operating next-generation data centers tailored for high-performance computing (HPC) and AI workloads. Their purpose-built data centers are engineered from the ground up to deliver optimized performance, scalability, and energy efficiency.

Focused on sustainability, Applied Digital strategically locates its facilities near renewable energy sources and employs advanced liquid cooling technology to minimize environmental impact. Their infrastructure solutions offer GPU-as-a-Service, providing secure, scalable, and cost-effective high-performance computing for AI, machine learning (ML), and other demanding workloads.

For more information, visit Applied Digital or follow them on X at @APLDdigital. Additionally, you can read their press release here.