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Shares of Applied Digital rose in extended trading Thursday after Nvidia reported a stake in the company.
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Nvidia had a roughly 3% stake in Applied Digital as of Sept. 30, according to a filing with the Securities and Exchange Commission.
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Applied Digital is a provider of advanced digital infrastructure designed to support high-performance computing and artificial intelligence applications.
Applied Digital shares (APLD) rose more than 4% during the extended trading day on Thursday after Nvidia (NVDA) reported an interest in the company.
The world’s largest company by market capitalization owned about 7.7 million Applied Digital shares, or a stake of about 3%, as of Sept. 30, according to a Securities and Exchange Commission filing Thursday.
Applied Digital is a US-based provider of advanced digital infrastructure designed to support high-performance computing and artificial intelligence applications.
In its first fiscal quarter ended Aug. 31, the company saw 67% year-over-year revenue growth and said it secured $160 million in investment from institutional and accredited investors.
Nvidia is expected to report third-quarter results after the bell on Wednesday, November 20.
