Applied Digital has been raising capital at a feverish pace for high performance computing. And they aren’t showing any signs of slowing down yet, either.

‍What’s happening:‍

• Applied Digital (NASDAQ: APLD) has successfully raised $375M USD in a new debt financing round
  
• The funding round was led by Japanese financial giant Sumitomo Mitsui Banking Corporation
  

Why it matters:‍

• The new capital will go towards Applied Digital building out their leading edge data centre campus located in North Dakota, which is being purpose built for doing a large scale deal with a hyperscaler for artificial intelligence workloads
  

Going deeper:‍

• Applied Digital has been cutting a flurry of new financing deals lately, previously inking a multi billion dollar deal with Macquarie Asset Management to accelerate the build out of more artificial intelligence infrastructure

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