Applied Digital rises as Nvidia joins investors in $160 mln funding round for data center firm
Updates
** Shares of data center operator Applied Digital APLD.O rise 69.4% to $5.49
** APLD has entered into definitive agreements for a $160 mln financing from a group of investors including chip designer Nvidia NVDA.O
** In the private placement, APLD has agreed to issue more than 49 mln shares of its common stock at $3.24 per share, its closing price on Wednesday
** A private placement is a sale of shares or bonds to pre-selected investors and institutions rather than on a public exchange
** Up to last close, stock down ~52% this year
Reporting by Jaspreet Singh in Bengaluru
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