🔴 Applied Digital is trading 9.35% down today as higher-rate expectations stoke AI buildout financing concerns

Applied Digital is trading 9.35% down at $19.29 on October 15 as hotter inflation and higher-rate expectations intensify financing concerns for the industry’s buildout.

• Reuters reported that other data-center and AI infrastructure companies also fell; the broader risk-off move pressured technology stocks.
• The decline extends a 9.43% drop on October 14. Bitcoin is down 1.91% and Ethereum 3.53% since the prior close, less than the stock’s decline.
• No new company-specific announcement explaining the move was identified.