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Why Applied Digital (APLD) Soared on Friday?

We recently published a list of Shares of 10 Firms Soar on Friday. In this article, we are going to take a look at where Applied Digital Corporation (NASDAQ:APLD) stands against other firms that soared on Friday.

Wall Street finished mixed anew on Friday, as investors continued to weigh fresh developments on tariffs and inflation data.

The Nasdaq was the sole index eking out gains, up 0.41 percent. The Dow Jones decreased by 0.37 percent while the S&P 500 was little changed, dipping 0.01 percent.

In line with Nasdaq’s rally, 10 companies predominantly under the technology sector led the charge. In this article, we detailed the reasons behind their stellar performance.

To come up with this list of biggest advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A team of technicians in a server room, testing and managing the newest server solutions.

Applied Digital Corporation (NASDAQ:APLD)

Applied Digital Corporation (NASDAQ:APLD) saw its share prices surge by 15.17 percent on Friday to end at $9.11 apiece following news that the company raised $375 million in fresh funds from Sumitomo Mitsui Banking Corp. for the development of its Ellendale campus in North Dakota.

According to Applied Digital (NASDAQ:APLD), part of the proceeds will be used for repaying its existing obligations under Macquarie capital senior secured notes, which saw the latter investing $5 billion in APLD’s AI data center business last month.

The remainder of the proceeds would be used for the development of the campus’ first and second buildings.

The Ellendale campus is one of APLD’s major milestones which began construction in 2022. The facility currently houses the 180MW ELN01 for hosting crypto mining hardware and the 100MW ELN02 for high-performance computing (HPC). Two other buildings dedicated to HPC are expected to be completed over the next few years, totaling 300 MW.

Overall, APLD ranks 5th on our list of firms that soared on Friday. While we acknowledge the potential of APLD as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than APLD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

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