Shares of Applied Digital Corporation (APLD) are surging more than 15% Friday morning at $11.14.
Applied Digital today said its AI Cloud Service has secured the second AI customer with an agreement worth up to $460 million over 36-months.
Last month the company had launched its Cloud Services that provides high-performance computing power for AI applications.
“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 Applied Digital CEO and Chairman, Wes Cummins.
APLD has traded in the range of $0.85 – $11.53 in the last 1 year.
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