Applied Digital Secures Up to $550M as AI Infrastructure Race Accelerates – IPO Edge

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Applied Digital Secures Up to $550M as AI Infrastructure Race Accelerates

IPO Edge

Full Article 40 second read

Editorial

Applied Digital Secures Up to $550M as AI Infrastructure Race Accelerates

by IPO Edge

8 hours ago

40 second read

By Karen Roman

Applied Digital Corp. (Nasdaq: APLD) said it closed a $350 million revolving credit facility, arranged by Goldman Sachs, for the pre and post-lease development of its data center projects, for working capital, among other purposes.

The credit also includes an additional accordion option of up to $200 million and has a scheduled maturity of May 29, 2029, the company stated.

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“As demand for AI and high-performance computing infrastructure continues to accelerate, this facility is intended to provide additional flexibility to advance our development pipeline while maintaining a disciplined approach to capital allocation,” said Saidal Mohmand, Applied Digital’s CFO.