Applied Digital Appoints Jason Zhang as President

By Chris Stiles • Monday, January 19 08:10 • Permanent Link

Applied Digital (NASDAQ: APLD) has recently announced the appointment of Jason Zhang, the company's co-founder and former Chief Strategy Officer, as its new President. Zhang's promotion comes at a pivotal time for the company as it continues to scale its AI Factory platform.

Under Zhang's leadership, Applied Digital has reported significant growth. In the last quarter, the company's revenue increased by 28% compared to the previous quarter, reaching a total of $45 million. This growth is attributed to the successful expansion of its high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads.

Furthermore, the company's EBITDA margin has also improved, rising from 15% to 20% over the same period. This increase reflects Applied Digital's commitment to operational efficiency and sustainable business practices under Zhang's strategic guidance.

Zhang's appointment as President aligns with the company's focus on long-term vision and growth trajectory. He has been instrumental in shaping Applied Digital's strategy and will continue to work closely with Wes Cummins, who will remain Chairman and CEO, to define the company's strategic course as it advances through its next phase of AI infrastructure growth.

In addition to his role at Applied Digital, Zhang has a strong background in technology investment, having founded ValueFinder in 2019, an investment and advisory firm focused on technology companies. His experience in the technology and investment sectors is expected to further drive Applied Digital's success in the AI infrastructure market.

As Applied Digital moves forward with Zhang as President, the company aims to build on its strong foundation and leadership position in the industry, with a focus on scaling high-performance AI infrastructure with discipline and precision. The market has reacted to these announcements by moving the company's shares 6.19% to a price of $37.40. If you want to know more, read the company's complete 8-K report here.

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