Applied Digital Shares Surge on Strong Q2 Results and Expansion Talks
TL;DR Summary
Applied Digital reported a significant increase in revenue to $126.6 million, a 250% rise year-over-year, and reduced net losses, highlighting progress in their data center projects and strategic financing efforts, including a $2.35 billion private notes offering and new lease agreements with hyperscalers, positioning the company for substantial growth in AI infrastructure.
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