markets

Luke Kawa1/14/25

A crypto miner turned AI data-center company is spiking after a bank invested billions

Australian bank Macquarie is investing up to $5 billion in the future projects of data-center developer Applied Digital, as well as its existing data-center campus in North Dakota.

Shares of the Dallas-based company have spiked more than 20% as of 8:50 a.m. ET.

Data centers are high in demand amid the AI boom. Microsoft, which identified data centers as a key chokepoint, plans to invest $80 billion in their development this fiscal year.

Applied Digital reports earnings and will host a conference call after the close on Tuesday.

The company has previously received funding from the likes of Nvidia. With this rise, the market cap of the firm (previously called Applied Blockchain) is approaching $2 billion.

Exclusive | Macquarie to Invest Up to $5 Billion in Applied Digital AI Data Centers

Exclusive | Macquarie to Invest Up to $5 Billion in Applied Digital AI Data Centers

Data centers are high in demand amid the AI boom. Microsoft, which identified data centers as a key chokepoint, plans to invest $80 billion in their development this fiscal year.

Applied Digital reports earnings and will host a conference call after the close on Tuesday.

The company has previously received funding from the likes of Nvidia. With this rise, the market cap of the firm (previously called Applied Blockchain) is approaching $2 billion.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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