Why Applied Digital Stock Is Soaring Again Today
Shares of Applied Digital (NASDAQ: APLD) are making gains in today's trading. The company's share price was up 14.6% as of noon Friday, according to data from S&P Global Market Intelligence.
Applied Digital published a press release this morning announcing that its wholly owned subsidiary Sai Computing had secured a second customer for its artificial intelligence (AI) cloud service platform. The contract is worth $460 million over a three-year period and represents a significant win for Sai Computing and Applied Digital.
Applied Digital announced the launch of its AI cloud business for last month and revealed that it had landed its first customer with a contract worth $180 million over a two-year period. By simple comparison, it looks like the company will be providing a wider range of services to the second customer that it has brought on board -- and for a longer contracted duration.
Source Fool.com
