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We recently published 10 Firms Stealing the Show on Wall Street. Applied Digital Corp. (NASDAQ:APLD) is one of the best performers on Thursday.
Applied Digital bounced back by 8.64 percent on Thursday to close at $23.90 apiece as investors cheered its successful raising of $100 million in fresh funds from a loan facility.
In a statement, Applied Digital Corp. (NASDAQ:APLD) said that its wholly owned subsidiary APLD DevCo LLC entered into a loan facility with Macquarie Group’s Commodities and Global Markets business to raise the total amount, proceeds of which will be used for the pre-lease development of new data center projects.
In line with the loan facility, Applied Digital Corp. (NASDAQ:APLD) is currently in advanced negotiations with another investment-grade hyperscaler for the potential lease of multiple campuses
“This development facility strengthens our ability to move quickly on high-quality sites while maintaining capital flexibility,” said Applied Digital Corp. (NASDAQ:APLD) Chairman and CEO Wes Cummins.
“As demand for AI-optimized data center infrastructure continues to accelerate, this financing is intended to support our strategy of developing purpose-built campuses for hyperscale customers,” he added.
In other news, Applied Digital Corp. (NASDAQ:APLD) announced that it is set to release the results of its second quarter earnings performance for the fiscal year 2026 after market close on January 7, 2026. An investor call will be held to discuss the results.
While we acknowledge the potential of APLD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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