Applied Digital Announces New $50M Loan to Accelerate Growth
Portfolio Pulse from Benzinga Newsdesk
Applied Digital Corporation (NASDAQ: APLD) has secured a $50 million loan to fund the buildout of its AI Cloud platform and datacenters. The loan has a 2-year term and a 9.0% interest rate.
May 19, 2023 | 12:02 pm
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Applied Digital Corporation (APLD) has obtained a $50 million loan to fund its AI Cloud platform and datacenter expansion, potentially boosting its growth.
The $50 million loan will provide Applied Digital with additional liquidity to fund the buildout of its AI Cloud platform and datacenters. This could lead to accelerated growth for the company, which may positively impact its stock price in the short term.
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