On June 26, Applied Digital fell 5.08% in regular trading, trading at $38.80/share, with turnover of $114 million. The stock has continued to weaken following the digestion of a recently announced power supply agreement.

On the news front, Applied Digital recently signed a power supply agreement with Montana-Dakota Utilities, a subsidiary of MDU Resources, to provide 430 megawatts of electricity for its Polaris Forge 3 artificial intelligence factory in North Dakota. The facility is expected to begin operating in August next year. However, the agreement did not disclose financial details, and after the initial positive sentiment faded, the stock has entered a sustained pullback from its June 23 levels near $45. Within the Internet Services and Infrastructure sector, CoreWeave declined 3.37% on the same day, reflecting broader industry headwinds weighing on AI infrastructure names.

Applied Digital Corporation is a designer, builder, and operator of next-generation digital infrastructure, focused on providing data center infrastructure solutions for the high-performance computing and artificial intelligence industries.

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