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.

(Corrects paragraph 1 to say Macquarie will take a stake in Applied Digital's high-performance computing unit, not the whole company. The error was there in previous versions of the story; Removes reference to valuation of 15% stake in Applied Digital and Macquarie's shareholding in the company)(Reuters) -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.

Australian bank Macquarie will invest up to $5 billion in data centers being built by Applied Digital. Shares in the AI infrastructure company jumped 17% Tuesday morning. Read more: