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Applied Digital‘s shares surged 26% on Friday after the data center service provider topped analysts’ estimates for first-quarter revenue, bolstered by rising adoption of artificial intelligence applications.
Growing demand for AI services such as ChatGPT has triggered the need for robust data center infrastructure that can support intensive computing workloads.
The company is set to add over $2 billion to its market value of $7.89 billion, if Friday’s gains hold.
Applied Digital’s stock was the top trending ticker on retail investor forum Stocktwits on…
