Applied Digital (APLD) stock surges 18% as hyperscaler talks and $2.35B notes deal take focus
Applied Digital shares surged 18% to $37.68 Friday after reporting fiscal Q2 revenue of $126.6 million, beating estimates by nearly 44%. Trading volume reached 86.4 million shares. The company completed a $2.35 billion private placement and plans to spin off its cloud division in a merger with EKSO Bionics. B. Riley raised its price target to $53.