Applied Digital posts smaller-than-expected loss on demand for cloud services

Jan 14 (Reuters) – Data center operator Applied Digital on Tuesday posted a smaller-than-expected loss for the second quarter, helped by increased demand for high-performance data center infrastructure and cloud services business.

The company’s stock closed nearly 10% higher on Tuesday after Australia’s Macquarie announced it would invest up to $5 billion in Applied Digital’s AI data centers and take a 15% stake in the company’s high-performance computing business.