StocksMedium•14 October 2026•
1 min read
AI Data Center Stocks Slide Led by Cipher Digital and Applied Digital
Key Facts
1Cipher Digital shares fell 5% after pricing an $850 million zero-coupon convertible note offering.
2Applied Digital shares declined 6% amid a broader sell-off in the AI data center sector.
Cipher Digital shares fell 5% after pricing a private offering of $850 million in zero-coupon convertible senior notes. 247wallst.com reported that the decline triggered a broader sell-off among AI data center infrastructure developers, with Applied Digital shares declining 6% in a sympathy move.
Applied Digital (APLD) closed at $22.44 on October 13, 2026, before the sector-wide pressure intensified. According to company statements, Cipher Digital intends to exchange part of an outstanding convertible issue for 40.7 million common shares, while industry peers like IREN also saw shares drop 4% to $33.37.