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Update
What changedApplied Digital shares rose 9% on 3 November, while IREN also gained 9% and Nebius rose 7%, according to 24/7 Wall St. The report says the move recouped some of Applied Digital’s losses from the previous day, though the stock remained down 30% over the past month.
The article adds a concrete measure of the financing challenge behind the wider AI data-centre market’s jitters: chief executive Wes Cummins said Applied Digital had financed about 600 megawatts of its 1.4-gigawatt plan, and still needed to finance about 800 megawatts over the next 12 months. He said the company’s tenants for the remaining capacity were rated AA or better.
Chief financial officer Saidal Mohmand described a funding sequence of preferred equity from Macquarie Asset Management followed by project-level debt, the report says.
Sources and evidence- Applied Digital Surges 9% as AI Data Center Stocks Rebound From Financing Jitters; IREN Jumps 9%, Nebius Climbs 7% – 24/7 Wall St.: Applied Digital shares rebounded alongside other AI data-centre stocks, while the company still needs to finance about 800 megawatts of a 1.4-gigawatt plan, according to 24/7 Wall St.
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