Key facts: Applied Digital to spin off cloud unit; reports $75.2M revenue; receives 'Outperform' rating
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Applied Digital plans to spin off its cloud unit, merging it with EKSO Bionics to form ChronoScale, focusing on GPU-driven AI. Applied Digital will retain 97% ownership.123Applied Digital reported $75.2 million in revenue for 2023, thanks to its early use of Nvidia's H100 GPU chips. A merger is expected to finalize in early 2026.4Applied Digital has received an 'Outperform' rating from Northland Capital Markets, suggesting positive expectations for the company's performance in the market.5
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