Welcome to our dedicated page for Applied Digital Corporation news (Ticker: APLD), a resource for investors and traders seeking the latest updates and insights on Applied Digital Corporation stock.
Applied Digital Corp designs, develops and operates next-generation datacenters across North America to provide digital infrastructure solutions to the rapidly growing high-performance computing industry. The company recently entered into a private financing agreement with a single investor where it issued a $42,131,579 unsecured convertible debenture. The debenture bears no interest and has a term of 54 weeks.
Applied Digital (Nasdaq: APLD) reported financial results for the fiscal first quarter ended August 31, 2024. Key highlights include:
- Revenues of $60.7 million, up 67% from the prior year period
- Net loss of $4.2 million, or $0.03 per basic and diluted share
- Adjusted EBITDA of $20.0 million
The company recently secured a $160 million private placement financing from institutional investors, NVIDIA, and Related Companies. Applied Digital is finalizing a lease agreement with a U.S.-based hyperscaler for its 100 MW facility under construction and plans to expand its Ellendale HPC Campus to 400 MW capacity.
The Cloud Services Business segment contributed $25.9 million in revenues. The company's data centers in Jamestown and Ellendale, North Dakota are operating at full capacity.
Applied Digital (Nasdaq: APLD), a company specializing in digital infrastructure for High-Performance Computing (HPC) applications, has announced its upcoming fiscal first quarter 2025 earnings conference call. The call is scheduled for Wednesday, October 9, 2024, at 5:00 p.m. Eastern Time.
The company will release a press release detailing its financial results for the quarter ended August 31, 2024, after the market closes on the same day. The conference call will feature prepared remarks from Applied Digital management, followed by a question-and-answer session.
Interested parties can join the call using the provided U.S. and international dial-in numbers. A live broadcast and replay of the call will also be available. For those unable to attend, a replay will be accessible until October 23, 2024.
Applied Digital (Nasdaq: APLD) has secured a $160 million strategic financing through a private placement, priced at market, from institutional and accredited investors, including NVIDIA and Related Companies. This investment validates Applied Digital's innovation in the accelerated compute space and will fuel the company's expansion of data center and GPU cloud solutions.
As a Preferred NVIDIA Cloud Partner, Applied Digital is positioned to deliver a proprietary, hyper-efficient platform for advanced HPC and AI workloads. The company is currently building one of the world's largest data centers and developing an additional 300MW of data center capacity. The financing will support these projects and strengthen Applied Digital's position in the market for AI and HPC infrastructure.
Applied Digital (Nasdaq: APLD) has secured $53.2 million in convertible preferred stock from a single investor, netting $50 million in proceeds. The company, which specializes in digital infrastructure for High-Performance Computing (HPC) applications, plans to use the funds to accelerate growth initiatives and support its Ellendale HPC data center project. The preferred stock, with a stated value of $1,000 per share and 8% interest rate, will be convertible to common stock at $7.00 per share upon shareholder approval. This conversion price represents an 80% premium over Applied Digital's current stock price. Wes Cummins, Chairman and CEO, expressed confidence that this capital infusion will help solidify the company's position in the AI-driven data center market.
Applied Digital (Nasdaq: APLD) reported financial results for fiscal Q4 and full year 2024 ended May 31, 2024. Highlights include:
- Fiscal 2024 revenue: $165.6 million (199% increase YoY)
- Fiscal 2024 net loss: $149.7 million
- Fiscal 2024 adjusted EBITDA: $24.5 million
- Q4 2024 revenue: $43.7 million (98% increase YoY)
- Q4 2024 net loss: $64.8 million
- Q4 2024 adjusted EBITDA: $4.8 million
The company secured over $150 million in funding post-fiscal year end and restored its Ellendale Data Center Hosting facility to full capacity. Applied Digital is expanding its Cloud Services business and executed an LOI with a U.S.-based hyperscaler for 400 MW capacity.
Applied Digital (Nasdaq: APLD) has appointed Gary Smith as its new Senior Director of Physical Security. With over 40 years of experience in law enforcement and corporate security, Smith will oversee all aspects of physical safety at Applied Digital, including security services, access control, and systems technology. Smith joins from Digital Realty, where he served as Vice President of Portfolio Security, Compliance, and Business Continuity.
CEO Wes Cummins expressed confidence that Smith's extensive experience and track record will be invaluable in reinforcing safety measures and maintaining high standards of protection and reliability. Smith holds multiple advanced degrees and certifications in security and technology fields. Applied Digital, a designer and operator of next-generation digital infrastructure for HPC applications, aims to leverage Smith's expertise to enhance the protection and integrity of its facilities.
Applied Digital (Nasdaq: APLD), a company specializing in next-generation digital infrastructure for High-Performance Computing applications, has announced its upcoming fiscal fourth quarter and full year 2024 conference call. The call is scheduled for Wednesday, August 28, 2024, at 5:00 p.m. Eastern Time.
A press release detailing the company's operating and financial results will be issued after market close on the same day. The conference call will feature prepared remarks from Applied Digital management, followed by a question-and-answer session. Participants can join via U.S. or International dial-in numbers, and a live broadcast will be available for replay.
Applied Digital (Nasdaq: APLD) has secured the final $25 million from the sale of its Garden City, Texas facility after meeting conditional approval requirements. This transaction strengthens the company's balance sheet and supports ongoing growth initiatives. Applied Digital, a designer and operator of next-generation digital infrastructure for High-Performance Computing (HPC) applications, is positioning itself in the data center and Cloud as a Service markets.
The company's purpose-built data centers are strategically designed for HPC needs, while Applied Digital Cloud aims to deliver cost-effective GPU compute solutions for AI, ML, rendering, and other HPC workloads. Applied Digital's infrastructure is designed to provide high performance at a low cost, supporting clients in the era of rapid technological advancement.
Applied Digital (Nasdaq: APLD) has appointed Tom Burke as its new Chief Revenue Officer to drive revenue growth and strategic partnerships. With over a decade of experience in global sales and AI partnerships, Burke will oversee revenue-generating functions, develop sales strategies, and coordinate cross-functional alignment. His role includes establishing a client success organization and working on revenue projections and investment planning.
Burke's background includes serving as VP & Head of Global Sales for IBM Data & AI, where he led IBM's AI partnership strategy globally. Applied Digital's CEO, Wes Cummins, expressed confidence in Burke's expertise to expand the company's market presence in next-generation data centers optimized for AI workloads. The company has over 2 GW of power in various stages of development and offers cutting-edge solutions in data centers and Cloud as a Service for HPC needs.
Applied Digital has appointed Chris Jackson as the new Senior Vice President of Operations. Jackson brings over 20 years of experience in managing critical project operations, having held senior roles at Stream Data Centers and Vantage Data Centers. In his new position, Jackson will oversee development and operational activities, including security, safety, reliability, engineering, customer experience, and compliance. His appointment aims to drive operational efficiency and scalability at Applied Digital, leveraging his extensive background in strategic operational oversight and large-scale data service management. Jackson's experience includes managing Amazon Web Services' largest availability zone, ensuring 99.999% availability across 1200MW of IT resources. Applied Digital hopes Jackson's expertise will bolster its position as a leader in next-generation data centers and high-performance computing solutions.
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