Applied Digital (APLD) shares rose on Thursday morning after the company said it has entered into a loan facility with Macquarie Group’s Commodities and Global Markets business to fund the pre-lease development costs for new data center projects.
Applied Digital rose nearly 6% to rank among the S&P 500’s top gainers, as the company continues to advance multiple large-scale data center projects tied to its AI infrastructure platform.
The facility was entered into on December 18 by APLD DevCo LLC, a wholly owned subsidiary of Applied Digital and Macquarie, and provides pre-lease development capital to support the early-stage sourcing, planning, and construction of new data center campuses and other potential projects.
Applied Digital (APLD) is currently in advanced-stage negotiations with another investment-grade hyperscaler for multiple campuses and the initial $100 million in draws from this facility is intended to support related development activities at these campuses.
