(Reuters) – Applied Digital beat Wall Street estimates for first-quarter revenue on Monday, as rapidly growing generative artificial intelligence (AI) technology boosted demand for the company’s data centers.
Shares of the company rose 2.5% in premarket trading.
The Dallas, Texas-based company reported revenue of $36.3 million for the quarter ended Aug. 31, compared with analysts’ average estimate of $33.8 million, according to LSEG data.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Shailesh Kuber)
