Applied Digital Stock Surges 12% After Announcing Its Third AI Deal

CoinDesk
CoinDesk

30 Jun 2023 7:16 PM

Applied Digital will be deploying HPE's Cray XD supercomputers in its AI cloud service....

  • Shares of Applied Digital Corporation (APLD) surged 12% as the company announced its third deal in the field of artificial intelligence (AI).
  • Applied Digital's AI cloud service will use supercomputers designed by Hewlett Packard Enterprises (HPE) and built using NVIDIA H100 GPUs.
  • The partnership aims to enhance Applied Digital's AI Cloud service and support critical workloads such as AI, machine learning, rendering, and high-performance computing (HPC) tasks.
  • Applied Digital has announced two hosting deals for AI loads that could generate up to $820 million in revenues over the next 36 months.
  • Bitcoin miners are turning to AI to boost their revenues amidst a slump in bitcoin prices and increased network difficulty.
  • Applied Digital plans to expand its high-performance computing hosting capacity from 9 MW to 200 MW.
  • HPE's supercomputing-as-a-service offering allows customers to access supercomputing on the cloud without building the infrastructure.

The article highlights positive developments for Applied Digital Corporation, with the company's shares surging and the announcement of a partnership in the AI field. The expansion plans and potential revenue generation also contribute to a positive sentiment.

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You May Ask

What caused the surge in shares of Applied Digital Corporation?Which companies are involved in the partnership to enhance Applied Digital's AI Cloud service?How much revenue could the hosting deals for AI loads generate for Applied Digital?Why are bitcoin miners turning to AI?What is HPE's supercomputing-as-a-service offering and how does it benefit customers?

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