Why Applied Digital Stock Is Skyrocketing Today

Applied Digital (NASDAQ: APLD) stock is seeing huge gains in Friday's trading. The company's share price was up 12.7% as of 10:15 a.m. ET and had been up as much as 17.3% earlier in the day's trading.Applied Digital's valuation is surging today after Nvidia's (NASDAQ: NVDA) holdings disclosure with the Securities and Exchange Commission (SEC) showed that the artificial intelligence (AI) hardware leader was still invested in the company. While Nvidia didn't buy any additional Applied Digital shares in Q4, it didn't sell any either -- and that says something, given other moves made by the company.Nvidia's stock holdings as of Dec. 31 were made public through a disclosure with the SEC today, and the company reported still owning roughly 7.7 million shares of Applied Digital stock. This represents a significant vote of confidence in the company, given that Nvidia moved to completely sell out of previous holdings in SoundHound AI and Serve Robotics in the quarter.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool