Shares of Applied Digital were trading sharply higher after the operator of artificial-intelligence data centers announced it would be receiving up to $5 billion from Macquarie Asset Management. Applied Digital stock gained 25% to $9.

Macquarie will invest up to $5 billion in data centers being built by artificial-intelligence infrastructure company Applied Digital, adding to the Australian bank’s substantial AI-related investments.

Australia's Macquarie on Tuesday agreed to take a 15% stake in Applied Digital's high-performance computing business and invest up to $5 billion in the company's artificial intelligence data centers amid booming AI demand.