Transitioning from crypto to AI, Applied Digital has raised $160 million in funding from investors, including Nvidia and Related Companies. The capital will accelerate the company’s growth, allowing it to expand its data center and GPU cloud offerings. CEO Wes Cummins emphasized the strong partnerships with Nvidia and other investors as Applied continues its AI-focused pivot.
Morgan Stanley forecasts that global data centers will emit 2.5 billion tons of CO2 by 2030, fueled by the growing demand for generative AI. This surge in emissions is three times higher than a scenario without AI. As a result, companies are turning to decarbonization technologies like carbon capture and reforestation to meet their 2030 carbon neutrality goals.
