Applied Digital Corporation (NASDAQ:APLD) saw an 8.66% jump in its stock price last week, reaching $27.10. The optimism is fueled by expectations of a 25-basis point rate cut by the US central bank on December 10. JPMorgan also revised its outlook, predicting a rate cut this year.

The technology sector led the rally, with all sectoral indices making gains. APLD completed the second phase of the Polaris Forge 1 campus, capable of powering 100 MW of IT load. The facility is part of a 400 MW 15-year lease agreement with CoreWeave Inc., expected to generate $11 billion in revenues.

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Read more at Yahoo Finance: Applied Digital (APLD) Pops 8.7% as Market Mood Brightens