A newly public provider of AI data center infrastructure, WhiteFiber, saw its shares jump Thursday after it reported second-quarter results. WhiteFiber stock made its initial public offering debut on Aug. 7.
On Wednesday, the New York City-based company posted a Q2 loss of 24 cents a share on sales of $18.7 million, according to FactSet. On a year-over-year basis, its revenue rose 48%.
On the stock market today, WhiteFiber stock rose 11.7% to close at 23.41. Earlier in the session, it climbed as high as 24.18. Its IPO was priced at $17 a share. It notched its all-time high of 25.13 on its first trading day.
WhiteFiber is a subsidiary of cryptocurrency firm Bit Digital. After the IPO, Bit Digital retained an ownership stake of about 71.5% of WhiteFiber.
"The demand environment for AI infrastructure remains exceptionally strong, with enterprises and research institutions requiring more high-density, reliable capacity to support large-scale model training and deployment," WhiteFiber Chief Executive Sam Tabar said in a news release.
"WhiteFiber is well positioned to capture this demand today and into the future as the market evolves," he said. "We are one of the few pure-play providers of AI infrastructure that integrates both GPU cloud services and the underlying data center capacity. This combination enables us to deliver performance, reliability, and efficiency at scale as our customers' needs change and expand over time."
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