Financial News
Applied Digital Secures Contract with AI Customer, Together AI
• Together AI will utilize Applied Digital's dynamic computing ecosystem, featuring H100 GPUs and NVLink technology.
• Applied Digital's robust infrastructure aligns with Together AI's commitment to innovation, seeking to meet the surging demands of AI and HPC markets.
DALLAS, March 14, 2024 (GLOBE NEWSWIRE) -- Applied Digital Corporation (Nasdaq: APLD) ("Applied Digital" or the "Company"), a designer, builder, and operator of next-generation digital infrastructure designed for High-Performance Computing (“HPC”) applications, today announced the onboarding of another AI customer, Together AI. Applied Digital received a contract prepayment of $18 million as part of the $75 million contract, in connection with which it has fully onboarded one compute cluster of GPUs and has provided access to its second cluster.
Together AI is a research-driven artificial intelligence company contributing to leading open-source research, models, and datasets to advance the frontier of AI. The company’s decentralized cloud services empower developers and researchers at organizations of all sizes to train, fine-tune, and deploy generative AI models.
Together AI will be running on Applied Digital's dynamic computing ecosystem, custom-built to meet the rigors of AI's demanding tasks and data-rich optimizations. The structure boasts H100 GPUs and is seamlessly interconnected via high-speed InfiniBand fabric, delivering an aggregated bandwidth of 3.2 Tbps. The communication between the GPUs will be enhanced by NVIDIA's NVLink technology, adhering to an optimized Rail Design.
“Our partnership with Together AI highlights the effectiveness of our cloud service in propelling forward-thinking AI ventures towards scalability,” said Applied Digital CEO and Chairman Wes Cummins. “This onboarding reaffirms Applied Digital's overarching mission to empower pioneering AI innovators through our comprehensive service offerings.”
“Applied Digital’s robust computing infrastructure and next-generation datacenter design, specifically tailored for demanding AI tasks, align with our commitment to innovation,” said Vipul Ved Prakash, CEO of Together AI. “This collaboration allows us to provide scalable capacity to our thousands of startup and enterprise customers who are building new AI models and applications on our platform.”
With the surging power requirements of AI, the HPC markets are experiencing exponential growth, projected to reach a global revenue of $65.12 billion by 2030(1). We believe Applied Digital is poised to capitalize on this momentum, spearheading advancements in these complementary sectors.
To learn more about the Applied Digital and Together AI partnership, please read our recent blog post titled "Together AI and Applied Digital — Advancing the frontiers of AI"
About Applied Digital
Applied Digital (Nasdaq: APLD) designs, develops, and operates next-generation data centers across North America to provide digital infrastructure solutions to the rapidly growing HPC industry. Find more information at www.applieddigital.com. Follow us on Twitter at @APLDdigital.
About Together AI
Together AI is the leading cloud platform for open-source and independently developed AI systems. Together AI rapidly brings the latest innovations from research to production, enabling the highest performance and efficiency. Find more information at together.ai. Follow us on Twitter at @togethercompute.
Forward-Looking Statements
This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and objectives. These statements use words, and variations of words, such as "continue," "build," "future," "increase," "drive," "believe," "look," "ahead," "confident," "deliver," "outlook," "expect," “project” and "predict." Other examples of forward-looking statements may include, but are not limited to, (i) statements of Company plans and objectives, including our evolving business model, or estimates or predictions of actions by suppliers, (ii) statements of future economic performance, (iii) statements of assumptions underlying other statements and statements about the Company or its business and (iv) statements regarding the expectations with respect to the HPC and AI markets. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events and thus are inherently subject to uncertainty. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the Company's expectations and projections. These risks, uncertainties, and other factors include: decline in demand for our products and services; the volatility of the crypto asset industry; the inability to comply with developments and changes in regulation; cash flow and access to capital; and maintenance of third party relationships. Information in this release is as of the dates and time periods indicated herein, and the Company does not undertake to update any of the information contained in these materials, except as required by law.
Investor Relations Contacts
Matt Glover or Alex Kovtun
Gateway Group, Inc.
(949) 574-3860
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Gateway Group, Inc.
(949) 899-3135
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