Nvidia Stake Sends This AI Stock Higher Thursday

Core Insights - Shares of Applied Digital surged over 4% in extended trading after Nvidia reported a stake in the company [2] - Nvidia held approximately 7.7 million shares of Applied Digital, representing a roughly 3% stake as of September 30 [2] - Applied Digital specializes in advanced digital infrastructure to support high-performance computing and artificial intelligence applications [2] Financial Performance - In its fiscal first quarter ended August 31, Applied Digital reported a revenue growth of 67% year-over-year [3] - The company secured a $160 million investment from institutional and accredited investors [3] Upcoming Events - Nvidia is scheduled to report its third-quarter results on November 20 [3]