Investment firm Macquarie is to invest billions of dollars into data center firm Applied Digital. First reported by the Wall Street Journal and confirmed by the company, Macquarie Asset Management (MAM) is set to invest $5 billion into Applied, a cryptomining firm pivoting to AI and HPC data centers.

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.

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.

Australian bank Macquarie will invest up to $5 billion in data centers being built by Applied Digital. Shares in the AI infrastructure company jumped 17% Tuesday morning. Read more:

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.

Australia's Macquarie will invest up to $5 billion in Applied Digital's AI data centers and will take a 15% stake in the company, the technology company said on Tuesday, sending its shares up over 15% in premarket trading.