Applied Digital Corp. (NASDAQ:APLD) saw a 3.16 percent jump in stock price on Monday, closing at $24.81 per share. The company announced a new corporate strategy to separate its cloud computing and data center businesses, with plans to merge with EKSO Bionics Holdings Inc. to create a new company called ChronoScale. Applied Digital Corp. (NASDAQ:APLD) will own 97 percent of the combined firm, focusing on an accelerated compute platform for AI workloads. The move is designed to meet the growing demand for GPU-accelerated cloud infrastructure. Investors are optimistic about the potential of APLD, but other AI stocks may offer higher returns with less risk.

Read more at Yahoo Finance: Applied Digital (APLD) Jumps 3% on Cloud Business Spinoff