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.

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.

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

(Corrects paragraph 1 to say Macquarie will take a stake in Applied Digital's high-performance computing unit, not the whole company. The error was there in previous versions of the story; Removes ref

Macquarie will invest up to $5 billion in data centers being built by artificial-intelligence infrastructure company Applied Digital, adding to the Australian bank’s substantial AI-related investments.

(Reuters) - Investment bank Macquarie will invest up to $5 billion in Applied Digital's AI data centers and will take a 15% stake in the company, the Wall Street Journal reported on Tuesday. Shares of the data center operator jumped over 20% in premarket trading.

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.