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.

Macquarie Group’s asset management unit has upped its exposure to the burgeoning data centre sector in the United States through an investment and funding deal with Applied Digital Corporation, worth up to $US5bn ($8.

Key Takeaways Applied Digital shares surged in intraday trading Tuesday after announcing that Macquarie Asset Management is investing up to $5 billion in its high-performance computing data centers.Nvidia is already an investor in Applied Digital data centers and announced a stake in the company last year.