By Karen Roman
Applied Digital Corp. (Nasdaq: APLD) said it completed the separation of its cloud business through a combination with EKSO Bionics Holdings, Inc., giving birth to a new company called ChronoScale Corp. which will trade on Nasdaq under the ticker “CHRN.”
ChronoScale will focus on supporting demanding artificial intelligence workloads and large-scale deployments, with Applied Digital owning nearly 97% of ChronoScale shares, it stated.
“Our data center hosting platform is built on long-duration contracts and predictable infrastructure returns, while the cloud compute layer operates on shorter cycles with a different risk profile,” said Wes Cummins, Applied Digital’s Chairman and CEO. “We believe separating these businesses allows each to be capitalized and scaled appropriately.”
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