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Why Did Applied Digital Stock Jump 14.3% Today?

TheMotleyFool

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Why Did Applied Digital Stock Jump 14.3% Today?: https://g.foolcdn.com/editorial/images/853313/ai-hand.png

Shares of Applied Digital (NASDAQ: APLD) spiked on Tuesday, finishing the day up 14.3%. The dramatic move came as the S 500 gained 0.4% and the Nasdaq Composite rose 0.9%.

The artificial intelligence (AI) data center operator's stock is flying on news of Nvidia's investment in one of Applied Digital's closest partners.

Nvidia, the company at the very heart of the AI boom, announced late yesterday that it is expanding its backing of *CoreWeave*, the AI-first cloud computing operator. The chipmaker purchased $2 billion in Class A shares of CoreWeave at an average price of $87.20 per share as part of an expanded partnership.

Source Fool.com

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