APLD Skyrockets Amid AI Boom
Applied Digital Corporation (NASDAQ:APLD) recently jumped by 16.9 percent week-on-week, driven by a boost from Nvidia Corp. (NVDA) CEO Jensen Huang's comments on DeepSeek, which sent shockwaves through US stocks. Investor sentiment was further bolstered by NVDA's recent regulatory filing, revealing that APLD is one of the companies directly invested in. The stock's price growth can be attributed to its involvement with OpenAI's ChatGPT and the significant role played by NVDA in the tech giant's growth.
- The rapid ascent of APLD highlights the growing importance of AI-driven technologies, particularly in the semiconductor sector, where NVDA's influence is profound.
- As the AI space continues to evolve, it will be interesting to see how APLD's performance compares to other AI stocks that are not only more promising but also trading at lower price-to-earnings ratios.