What's Going On With Applied Digital Stock?

Shares of Applied Digital Corporation (NASDAQ:APLD) are trading lower on Wednesday after SEC filings revealed that Nvidia sold its entire stake in the data center company.

• Applied Digital stock is trending lower. What’s driving APLD stock lower?

Nvidia Sells $177 Million Worth Of Shares

Nvidia’s decision to divest its $177 million stake in Applied Digital significantly impacted the stock, as Nvidia is a major player in the technology sector and its holdings are seen as a vote of confidence. Nvidia originally invested in Applied Digital in 2024, helping spark momentum that saw Applied Digital stock gain around 240% over the past year.

Applied Digital designs, develops and operates digital infrastructure solutions and cloud services to industries like High-Performance Computing (HPC) and Artificial ...

Full story available on Benzinga.com