Applied Digital Corporation - APLD STOCK NEWS

Applied Digital (Nasdaq: APLD) announced the appointment of Todd Gale as Chief Development Officer. Gale, with over 45 years of industry experience, will lead the company's datacenter design strategy, focusing on liquid cooling systems, power systems design, and data hall infrastructure at the company's HPC datacenter campus in Ellendale, North Dakota.

Applied Digital (Nasdaq: APLD) appoints Ella Benson as an independent director on its Board of Directors, effective May 6, 2024. Benson, with over a decade of experience in financial services, will also serve as the Chairperson of the Nominating and Governance Committee. Her appointment is part of a Cooperation and Standstill Agreement with Oasis Management Company. The agreement includes restrictions on Oasis' stock ownership and activities during Benson's tenure on the Board.

Applied Digital (Nasdaq: APLD) reported financial results for the fiscal third quarter ended February 29, 2024, with total revenue of $43.3 million and an adjusted EBITDA loss of $2.3 million. The company strengthened its balance sheet with $160 million in asset sales and financing transactions. Operational highlights include an LOI with a US-based hyperscaler for a 400 MW capacity lease and progress in restoring Ellendale's capacity. Despite challenges from outages, the HPC and Cloud Services sectors show growth.

Applied Digital (Nasdaq: APLD) reschedules fiscal third quarter 2024 earnings conference call to April 11, 2024, due to a scheduling issue. Financial and operational results for the quarter ended February 29, 2024, will be disclosed after the market closes. The management will present prepared remarks and engage in a Q&A session.

Applied Digital (APLD) secures $50 million unsecured convertible debenture in private financing agreement to advance construction of HPC data center in North Dakota. The company plans to use the funds from the financing and the sale of the Garden City facility for project development. The Investor has restrictions on conversion and shorting the stock, ensuring stability. Northland Capital Markets and Lowenstein Sandler LLP facilitated the financing process.

Applied Digital (Nasdaq: APLD) to host a conference call on April 10, 2024, to discuss fiscal third-quarter financial results. The call will feature prepared remarks and a Q&A session.

Applied Digital (Nasdaq: APLD) collaborates with NVIDIA to use the latest Blackwell platform-based GPUs for HPC applications, aiming to provide cutting-edge computing power for AI, machine learning, and graphics rendering. This move showcases Applied Digital's commitment to innovation and technological advancement in digital infrastructure.

Applied Digital (APLD) announced the sale of its 200 MW campus in Garden City, TX to Marathon Digital Holdings for a net purchase price of $87.3 million, focusing on strategic HPC sites in North Dakota. The transaction will release $12 million of restricted cash and is expected to close in Q2 2024.

Applied Digital Corporation (APLD) announces a partnership with Together AI, a research-driven artificial intelligence company, to utilize APLD's dynamic computing ecosystem with H100 GPUs and NVLink technology. APLD received an $18 million prepayment as part of a $75 million contract. The collaboration aims to meet the growing demands of AI and HPC markets.