$APLD

U.S. stock futures dipped late Tuesday due to software sector declines and AI disruption fears. Key software stocks like Palo Alto Networks (PANW) and Oracle fell, while financials outperformed. PANW cut its FY26 EPS forecast, causing an 8% drop in after-hours trading. Applied Digital (APLD) also fell 8% after Nvidia exited its stake. Iamgold (IAG) rose 0.2% on record EBITDA, and Infleqtion (INFQ) gained 13% on its NYSE debut. Investors await Fed minutes and economic data.

Applied Digital (APLD) and IREN (IREN) are competing in the AI data center sector. APLD reported $611.3M revenue (up 183.7%) and a $250.3M net loss in FY2026, with high customer concentration risk. IREN generated $707.0M revenue (up 41.1%) and a $702.6M net loss, pivoting from crypto mining to AI cloud services. Both face high debt and capital expenditures.

Applied Digital (APLD) and Cipher (CIFR) shares fell 4% and 6% respectively as 10-year Treasury yield rose to 4.79%. Both companies have long-term contracts but face risks from high debt and construction costs. APLD reported 1.41 GW capacity and $36.2B revenue, while CIFR has $11.4B revenue and $5B debt. Hedge funds increased exposure, with APLD held by 59 funds and CIFR by 72.

Applied Biologics activated the first clinical site in its Phase 3 trial for BIOxHEAL™, a treatment for chronic diabetic foot ulcers. The milestone follows FDA clearance and other regulatory approvals. The company expects patient screening and enrollment to begin soon. BIOxHEAL is an investigational biologic not yet approved by the FDA.

Third Point, led by Daniel Loeb, invested in Bitcoin miners Hut 8, Riot Platforms, Core Scientific, and Applied Digital, as well as Block (NYSE: XYZ), during Q2 2026. The fund increased its stake in Hut 8 to $151.8 million and opened positions in the other miners. Block reported Q2 2026 revenue of $6.62 billion and EPS of $1.02, exceeding estimates. These miners are pivoting to AI, signing major leases and deals.

IREN (NASDAQ:IREN) fell 13% after a $639M impairment charge, dragging down Applied Digital (NASDAQ:APLD) 7%, TeraWulf (NASDAQ:WULF) 7%, and Core Scientific (NASDAQ:CORZ) 7%. IREN's revenue rose 41.1%, but net loss widened due to the impairment. Applied Digital reported $36B in contracted lease value. The selloff is concentrated in capex-heavy AI data center stocks, not broader infrastructure.

TeraWulf (WULF) and Applied Digital (APLD) shares rose 6% and 5% respectively, following NVIDIA's (NVDA) strong earnings report. NVIDIA reported $96.2B revenue, beating estimates, and guided for $108B in Q3, driving demand for AI data-center infrastructure. Both companies benefit from NVIDIA's supply constraints and increased AI spending.

CoreWeave (CRWV) and Applied Digital (APLD) are benefiting from AI data center growth. CRWV reported $2.6B Q2 revenue and $104B backlog, while APLD has $4.2B cash and $5B debt. Both face risks like capital intensity and customer concentration. CRWV's P/S is 1.93 vs. APLD's 8.01. CRWV up 24.4%, APLD up 9.4% in a month.

Applied Digital (APLD) and TeraWulf (WULF) are AI data center companies with long-term leases. APLD has 1.4 GW of contracted power and a 3 GW pipeline, while WULF has 0.839 GW contracted and a 2.1 GW pipeline. Despite APLD's stronger position, both have similar market caps ($7.8B vs. $7.7B). APLD reports higher revenue and growth rates.

U.S. stock futures rose Tuesday, following Wall Street's strongest session since May, as Iran conflict de-escalation hopes grew. S&P 500, Dow, and Nasdaq posted their best daily performance since May. Tech stocks led the rebound, with Nvidia and Microsoft gaining. Applied Digital (APLD) shares rose, while Nike (NKE) and RH fell after earnings. Tema Space Innovators ETF (NASA) jumped in its debut. Oil prices remained volatile.