Applied Digital's $5 billion investment announcement is contingent on closing a 100 MW deal with a hyperscaler, which remains uncertain. Explore more details here.

Australia's Macquarie on Tuesday agreed to take a 15% stake in Applied Digital's high-performance computing business and invest up to $5 billion in the company's artificial intelligence data centers amid booming AI demand.

Key Takeaways Applied Digital shares surged in intraday trading Tuesday after announcing that Macquarie Asset Management is investing up to $5 billion in its high-performance computing data centers.Nvidia is already an investor in Applied Digital data centers and announced a stake in the company last year.