Shares of Applied Digital Corporation (APLD), a Texas bitcoin mining and data center firm, surged 12% on Friday, as the firm announced its third deal in the field of artificial intelligence (AI). Under the partnership, Applied Digital's AI cloud service will use supercomputers designed by Hewlett Packard Enterprises (HEP) and built using NVIDIA H100 graphics processing units (GPUs). Applied Digital has so far announced two hosting deals for AI loads that could bring in as much as $640 million in revenues over the next 36 months. Bitcoin miners are increasingly looking into AI to shore up their revenues, which have been hurt by a slump in bitcoin prices and increased network difficulty.
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