🔴 Applied Digital is trading 10.22% down today amid doubts over AI infrastructure spending

Applied Digital is trading at $18.84, down 10.22%, amid a broad selloff in technology and AI-linked stocks.

• Investors are questioning the cost and payoff timeline of AI infrastructure spending; Reuters reported weak tech sentiment and higher oil prices added to market unease on October 22.
• Bitcoin fell 3.84% and Ethereum 4.56% since the prior close, potentially adding pressure. No clear company-specific catalyst for October 22 was found.