Applied Digital Completes Financing for Jamestown HPC Data Center Campus
05 Marzo 2024 - 2:05PM
Applied Digital Corporation (Nasdaq:
APLD) ("Applied Digital" or the
"Company"), a designer, builder, and operator of
next-generation digital infrastructure designed for
High-Performance Computing (“HPC”) applications, today announced
the Company has closed a previously secured loan agreement with The
Bank of North Dakota and Cornerstone Bank for $16 million in
site-level financing for its 10MW Jamestown HPC data center campus.
The Company intends to use the loan, which has a 5-year term, to
support its operations at the standalone data center, which will
house graphics processing units (GPUs) and support various HPC/AI
applications.
“The execution of this attractive financing is a
testament to the strength and support of our banking
relationships,” said Applied Digital CFO David Rench. “We're proud
to partner with The Bank of North Dakota as they continue to
support the development of digital infrastructure across the
state.”
Applied Digital’s next-generation data centers are designed and
built for hosting HPC/AI applications that can offer lower-cost,
high-efficiency solutions compared to traditional data centers that
are typically higher cost and do not have the ability to provide
the power-density/cooling required for AI/ML workloads.
About Applied DigitalApplied
Digital (Nasdaq: APLD) designs, develops and operates
next-generation data centers across North America to provide
digital infrastructure solutions to the rapidly growing
high-performance computing (HPC) industry. Find more information at
www.applieddigital.com. Follow us on Twitter at
@APLDdigital.
Forward-Looking Statements This release
contains "forward-looking statements" as defined in the Private
Securities Litigation Reform Act of 1995 regarding, among other
things, future operating and financial performance, product
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future events and thus are inherently subject to uncertainty. If
underlying assumptions prove inaccurate or known or unknown risks
or uncertainties materialize, actual results could vary materially
from the Company's expectations and projections. These risks,
uncertainties, and other factors include: decline in demand for our
products and services; the volatility of the crypto asset industry;
the inability to comply with developments and changes in
regulation; cash flow and access to capital; and maintenance of
third party relationships. Information in this release is as of the
dates and time periods indicated herein, and the Company does not
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materials, except as required by law.
Investor Relations ContactsMatt Glover or Alex
KovtunGateway Group, Inc.(949) 574-3860APLD@gateway-grp.com
Media ContactBrenlyn Motlagh or Diana
JarrahGateway Group, Inc.(949) 899-3135APLD@gateway-grp.com
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