APLD

Key TakeawaysIREN shares rose 4% today after it set up IREN Europe and licensed a planned 300MW AI data center in Spain, as Applied Digital, Cipher Digital, Riot Platforms and MARA Holdings also rose. The Badajoz campus gives IREN a real second market, but it adds optionality more than near-term revenue.

Applied Digital co‑founders Wes Cummins and Jason Zhang bought about $6.7 million of shares as the stock fell to a one‑year low. Their purchase shows insiders still backing the company despite the decline.

The article asks how long Cipher can keep spending money, but no details are given in the title or summary.

Short sellers made $6 billion betting against AI data‑center stocks in October. A $76 billion funding gap and high bond yields suggest these companies may still face challenges.

Dell’s $95 billion AI server backlog and lower valuation make it look more attractive than Applied Digital. Applied Digital’s $36 billion pipeline comes with rising financial risks.

Applied Digital and Soluna plan a 50 MW wind‑powered AI and HPC data center in Texas. The joint venture gives Applied Digital ownership and operational control while Soluna supplies the wind power.

Key TakeawaysCoreWeave shares fell 10% today after Bernstein cut its price target to $51 from $74, as Nebius, IREN and Applied Digital also fell on renewed AI spending fears. Bernstein’s Madison Rezaei doesn’t expect CoreWeave to go to zero, citing its backlog and her view that Nvidia would step in, but she sees its fundamentals as stuck.

CoreWeave and Applied Digital report higher revenue, but their capital expenditures far exceed cash from operations, making the pay‑back timeline unclear.