Applied Digital and EKSO Announce Proposed Business Combination

DALLAS, Dec. 29, 2025 — Applied Digital (NASDAQ: APLD) and EKSO Bionics Holdings, Inc. (NASDAQ: EKSO) have announced a non-binding term sheet for a proposed business combination. This new entity will be known as ChronoScale Corporation, focused on delivering high-performance computing for artificial intelligence (AI) workloads.

The deal, which aims to close in the first half of 2026, comes amid an increasing demand for GPU-accelerated cloud infrastructure. Applied Digital’s cloud computing business, Applied Digital Cloud, will be combined with EKSO, allowing both businesses to scale independently.

The Proposed Transaction seeks to create a platform for predictable performance and efficient deployment for customers demanding accelerated compute capabilities. Scott Davis, EKSO’s CEO, stated, “We believe the Proposed Transaction has the potential to maximize shareholder value.”

Wes Cummins, CEO of Applied Digital, added, “ChronoScale is intended to meet requirements for demanding AI workloads. The platform is designed to be purpose-built rather than general.”

Applied Digital Cloud has already demonstrated its capability by deploying NVIDIA’s H100 GPUs at scale in 2023. The company reported a twelve-month revenue of $75.2 million as of August 31, 2025, showing strong demand from enterprise clients.

ChronoScale aims to utilize Applied Digital’s existing infrastructure and resources, providing an advantage in deployment and reducing execution risks. The companies will continue operating separately until the transaction is finalized, and EKSO will explore opportunities for potential sale of its existing business.

The transaction is subject to regulatory approvals and completion of due diligence. Investors are urged to closely monitor the developments leading up to the launch of ChronoScale Corporation.