On June 23, Applied Digital fell 5.15% overnight, trading at $42.87/share, with turnover of $2.3685 million.

On the news front, MDU Resources' subsidiary signed a power supply agreement with Applied Digital for its planned Polaris Forge 3 artificial intelligence factory in North Dakota. The facility would require 430 megawatts of electricity at full capacity and is expected to begin operating in August next year. However, financial details of the agreement were not disclosed, limiting the catalyst's upside impact.

Despite the power agreement representing operational progress for Applied Digital's AI data center expansion, the lack of disclosed financial terms left investors without concrete valuation support. Meanwhile, the broader Internet Services & Infrastructure sector experienced widespread selling pressure, with CoreWeave down 6.16%, MongoDB down 1.88%, Cloudflare down 1.50%, and Snowflake down 1.54%, suggesting macro or sector-level headwinds weighed on the stock alongside the news.

Applied Digital Corporation designs, develops, and operates digital infrastructure solutions and cloud services for high-performance computing and artificial intelligence industries in North America.

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