Applied Digital Secures Contract with AI Customer, Together AI
March 14 2024 - 8:00AM
Applied Digital Corporation (Nasdaq: APLD) ("Applied Digital" or
the "Company"), a designer, builder, and operator of
next-generation digital infrastructure designed for
High-Performance Computing (“HPC”) applications, today announced
the onboarding of another AI customer, Together AI. Applied Digital
received a contract prepayment of $18 million as part of the $75
million contract, in connection with which it has fully onboarded
one compute cluster of GPUs and has provided access to its second
cluster.
Together AI is a research-driven artificial intelligence company
contributing to leading open-source research, models, and datasets
to advance the frontier of AI. The company’s decentralized cloud
services empower developers and researchers at organizations of all
sizes to train, fine-tune, and deploy generative AI models.
Together AI will be running on Applied Digital's dynamic
computing ecosystem, custom-built to meet the rigors of AI's
demanding tasks and data-rich optimizations. The structure boasts
H100 GPUs and is seamlessly interconnected via high-speed
InfiniBand fabric, delivering an aggregated bandwidth of 3.2 Tbps.
The communication between the GPUs will be enhanced by NVIDIA's
NVLink technology, adhering to an optimized Rail Design.
“Our partnership with Together AI highlights the effectiveness
of our cloud service in propelling forward-thinking AI ventures
towards scalability,” said Applied Digital CEO and Chairman Wes
Cummins. “This onboarding reaffirms Applied Digital's overarching
mission to empower pioneering AI innovators through our
comprehensive service offerings.”
“Applied Digital’s robust computing infrastructure and
next-generation datacenter design, specifically tailored for
demanding AI tasks, align with our commitment to innovation,” said
Vipul Ved Prakash, CEO of Together AI. “This collaboration allows
us to provide scalable capacity to our thousands of startup and
enterprise customers who are building new AI models and
applications on our platform.”
With the surging power requirements of AI, the HPC markets are
experiencing exponential growth, projected to reach a global
revenue of $65.12 billion by 2030(1). We believe Applied Digital is
poised to capitalize on this momentum, spearheading advancements in
these complementary sectors.
To learn more about the Applied Digital and Together AI
partnership, please read our recent blog post titled "Together AI
and Applied Digital — Advancing the frontiers of AI"
(1)
https://www.verifiedmarketresearch.com/product/global-high-performance-computing-market-size-and-forecast/
About Applied DigitalApplied Digital (Nasdaq:
APLD) designs, develops, and operates next-generation data centers
across North America to provide digital infrastructure solutions to
the rapidly growing HPC industry. Find more information at
www.applieddigital.com. Follow us on Twitter at @APLDdigital.
About Together AI
Together AI is the leading cloud platform for open-source and
independently developed AI systems. Together AI rapidly brings the
latest innovations from research to production, enabling the
highest performance and efficiency. Find more information at
together.ai. Follow us on Twitter at @togethercompute.
Forward-Looking Statements
This release contains "forward-looking statements" as defined in
the Private Securities Litigation Reform Act of 1995 regarding,
among other things, future operating and financial performance,
product development, market position, business strategy and
objectives. These statements use words, and variations of words,
such as "continue," "build," "future," "increase," "drive,"
"believe," "look," "ahead," "confident," "deliver," "outlook,"
"expect," “project” and "predict." Other examples of
forward-looking statements may include, but are not limited to, (i)
statements of Company plans and objectives, including our evolving
business model, or estimates or predictions of actions by
suppliers, (ii) statements of future economic performance, (iii)
statements of assumptions underlying other statements and
statements about the Company or its business and (iv) statements
regarding the expectations with respect to the HPC and AI markets.
You are cautioned not to rely on these forward-looking statements.
These statements are based on current expectations of future events
and thus are inherently subject to uncertainty. If underlying
assumptions prove inaccurate or known or unknown risks or
uncertainties materialize, actual results could vary materially
from the Company's expectations and projections. These risks,
uncertainties, and other factors include: decline in demand for our
products and services; the volatility of the crypto asset industry;
the inability to comply with developments and changes in
regulation; cash flow and access to capital; and maintenance of
third party relationships. Information in this release is as of the
dates and time periods indicated herein, and the Company does not
undertake to update any of the information contained in these
materials, except as required by law.
Investor Relations Contacts
Matt Glover or Alex Kovtun
Gateway Group, Inc.
(949) 574-3860
APLD@gateway-grp.com
Media Contact
Brenlyn Motlagh or Diana Jarrah
Gateway Group, Inc.
(949) 899-3135
APLD@gateway-grp.com
Applied Digital (NASDAQ:APLD)
Historical Stock Chart
From May 2024 to Jun 2024
Applied Digital (NASDAQ:APLD)
Historical Stock Chart
From Jun 2023 to Jun 2024