Applied Digital (APLD) and EKSO Bionics (EKSO) said late Monday they entered into a non-binding term sheet to combine Applied Digital's cloud computing unit with EKSO to form a new accelerated compute platform called ChronoScale.

Financial details weren't provided.

The transaction is intended to create a focused platform for high-performance compute at scale to meet growing demand for GPU-accelerated cloud infrastructure, the companies said.

Applied Digital will own about 97% of the combined entity, they added.

EKSO Bionics plans to continue exploring strategic transactions for the possible sale of its current business following the close of the deal, which is expected in H1 2026.

Shares of Applied Digital were slightly lower, while EKSO shares were up nearly 66% in recent after-hours activity.