Why Did Applied Digital Stock Skyrocket 34.5% This Week?

Shares of Applied Digital (NASDAQ: APLD) flew higher this week, finishing up 34.5%. The spike came as the S&P 500 and the Nasdaq-100 were up 1.6% and 1.9%, respectively.The artificial intelligence (AI) data center company saw its shares jump this week after a massive deal was announced between Microsoft and AI cloud provider Nebius, indicating that data center demand remains white-hot.In what is one of the largest data center deals to date, Microsoft has agreed to pay Nebius $17.4 billion over the next five years for AI infrastructure. Speaking of the deal, Nebius CEO Arkady Volozh said that he expects more deals like it and that the agreement will "help us to accelerate the growth of our AI cloud business even further in 2026 and beyond."Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool