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Applied Digital Stock Sinks: What's Fueling the Move?
Applied Digital Corp (NASDAQ:APLD) shares are falling Wednesday as investors fret over AI financing following a jump in CoreWeave's bond yield. A hot inflation report is also weighing on rate-sensitive stocks.
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Why CoreWeave Stock Tumbled Today
CoreWeave stock plummeted 14.4% after investor Chamath Palihapitiya posted a chart showing the company's bond yield reached 15%, up from 9% in summer. The surge reflects concerns about CoreWeave's $35 billion debt burden and its reliance on borrowing to fund chip and data center investments. Rising interest rates pose a significant threat to the company's profitability, though it continues to show strong revenue growth.