Nvidia Acquires 3% Stake in Applied Digital

Nvidia has acquired a 3% stake in Applied Digital, a company specializing in digital infrastructure for AI applications, which led to a surge in Applied Digital's stock by over 4%. Nvidia held approximately 7.7 million shares of Applied Digital as of September 30. Applied Digital reported a significant revenue growth of 67% year-over-year and secured a $160 million investment. Nvidia's stock, which has been performing well with a 7.77% increase over the past month, is anticipated to show substantial earnings growth, with expected earnings of $0.74 per share, reflecting an 85% year-over-year growth. Analysts continue to monitor shifts in earnings estimates, which could significantly impact Nvidia's stock performance.