Economy · News reference
Reference Details
Poisar stores the source's headline, summary and market tags for reference. Reporting and full article text remain with the original publisher.
Keep reading
The Nasdaq 100 fell 1.5% at midday Friday as memory chips and AI-debt names sold off, while Fed Chair Warsh declined to rule out an October hike after hot CPI and PPI. WTI held near $96, the 10-year yield hovered around 5.1%, gold bounced toward $4,200 and bitcoin traded near $81,300.
Applied Digital stock drops as AI debt concerns & surging CoreWeave bond yields trigger a sector-wide sell-off. Get the breakdown.
AI cloud debt concerns, a Gartner warning on neocloud providers and hot inflation data weigh on Cipher Digital stock.
Cipher Digital (CIFR) stock fell 25.7% this week after announcing an $850 million convertible debt offering and exchanging $165.9 million of existing notes for 40.7 million common shares. While the dilution concerned investors, the company's 20-year Barber Lake lease extension boosting contracted revenue to over $9 billion and its pivot toward high-performance computing infrastructure provide long-term growth potential. Analysts view the sell-off as a potential buying opportunity despite execution risks from construction cost overruns.
Cantor Fitzgerald analyst Brett Knoblauch maintains Cipher Digital (NASDAQ:CIFR) with a Overweight and lowers the price target from $28 to $19.