Why Applied Digital Stock Zoomed Nearly 9% Higher Today
Data center operator Applied Digital (NASDAQ: APLD) was a hot item among investors on Monday. The company's share price enjoyed a very pleasant boost of almost 9% on the day, on some big news in the artificial intelligence (AI) industry and the appointment of a seasoned tech industry veteran to its board of directors. By comparison, the S 500 index crawled up only 0.7%.
Applied Digital likes to try to hook itself into big tech and tech-adjacent trends; at one point during the cryptocurrency gold rush it titled itself Applied Blockchain before changing to its current moniker.
Lately, it has been pushing its data center solutions as ideal for AI developers. This, to its credit, could be more reality than hype, as it soon drafted several companies as clients for its self-descriptive AI Cloud Service (under the umbrella of its Sai Computing subsidiary).
Source Fool.com
