According to public documents, Nvidia holds approximately 7.72 million shares in Applied Digital, a developer of digital infrastructure solutions, valued at approximately $63.66 million, which is equivalent to approximately 3% of Applied Digital's shares. As of press time, Applied Digital has risen over 3% in pre-market trading.
Applied Digital designs, develops, and operates digital infrastructure solutions and cloud services, high-performance computing, and artificial intelligence industries in North America. In the first fiscal quarter ending August 31, the company's revenue was $60.7 million (a year-on-year increase of 67%), with a net loss of $4.2 million.
In September of this year, this artificial intelligence cloud company received $160 million in financing from a group of investors including Nvidia and related companies. This transaction brings new capital to Applied Digital, which is expected to help fund the company's growth and support the planned debt financing transaction.
Amidst the artificial intelligence boom, Nvidia has been increasing its investment efforts to support companies that use its chips. The company also participated in a $100 million funding round for Japanese artificial intelligence research company Sakana AI.
In other aspects, Nvidia also holds shares in biotechnology companies Recursion Pharmaceuticals (RXRX. US) (7.71 million shares), Arm Holdings (1.96 million shares), SoundHound (SOUN. US) (1.73 million shares), Nano-X Imaging (NNOX. US) (59632 shares), and Serve Robotics (SERV. US) (3.73 million shares).
The document also shows that holding a stake in Arm (ARM. US) remains its largest investment, with a total of $280.41 million. Nvidia attempted to acquire Arm for $40 billion in 2020, but regulatory pressure forced it to abandon the deal in 2022. Arm's stock price has risen by about 98% so far this year.