Shares of Applied Digital (NASDAQ: APLD) moved higher on Wednesday, finishing up 7.8%. The jump comes as the S 500 and the Nasdaq Composite gained 0.1% and 0.4%, respectively.

The artificial intelligence (AI) data center company's stock is getting a boost from news that a group of investors -- including and Nvidia -- is purchasing a data center company for $40 billion.

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Source Fool.com