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.

Macquarie’s funds will help Applied Digital complete construction of an AI data centre in North Dakota, and potentially finance additional ones.

Macquarie Group’s asset management unit has upped its exposure to the burgeoning data centre sector in the United States through an investment and funding deal with Applied Digital Corporation, worth up to $US5bn ($8.

Australia's Macquarie on Tuesday agreed to take a 15% stake in Applied Digital and invest up to $5 billion in the company's artificial intelligence data centers amid booming AI demand. The 15% stake is worth roughly $250 million based on Applied Digital's closing price on Monday.

Shares of Applied Digital were trading sharply higher after the operator of artificial-intelligence data centers announced it would be receiving up to $5 billion from Macquarie Asset Management. Applied Digital stock gained 25% to $9.

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.