Macquarie is set to invest up to $5B in AI data centers by Applied Digital $APLD (-4,7%)
starting with $900M for a North Dakota campus.
The deal includes a 15% stake in Applied’s high-performance computing business and a right of first refusal for an additional $4.1B over 30 months.
Applied Digital, originally focused on crypto mining, has pivoted to AI, riding the sector’s surge with its stock up over 40% in the past year. This funding will repay debt and help finance power-hungry data centers supporting AI's rapid growth.