Applied Digital Trading Volume Plummets 49.61% Ranking 49th in Market Activity Despite AI Infrastructure Boom

On June 9, 2025, Applied Digital (APLD) experienced a significant decline, with its trading volume dropping by 49.61% to 13.24 billion, ranking 49th in the day's market activity. The stock price fell by 6.06%.

Applied Digital has recently benefited from the AI infrastructure boom, particularly from a strategic partnership with CoreWeave. Last week, the company announced two 15-year deals to host CoreWeave's AI infrastructure at its North Dakota campus, expected to generate $7 billion in revenue over the contract's lifetime. This deal alone is projected to bring in $466 million annually, more than doubling the company's trailing-12-month revenues of $221 million.

In addition to the CoreWeave partnership, Applied Digital has secured backing from Nvidia, which owns 7.7 million shares of the company, representing about 3% of its total shares. Nvidia has also granted Applied Digital "elite partner" status, providing priority access to its products and making Applied a favored partner in the AI ecosystem.

Applied Digital specializes in building scalable, liquid-cooled, AI-focused data centers near renewable energy sources. The company's facilities are designed to support AI/ML, blockchain, and high-performance computing workloads, with a significant presence in North Dakota. The Ellendale campus, in particular, is a key asset, designed for expansion and central to the CoreWeave deal and a $5 billion investment from Macquarie Asset Management.