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Premarket, Haemonetics rose 8% as CSL expected U.S. rollout of its plasmapheresis platform by end-2027. Wolfspeed gained over 15% after securing a conditional $1.5 billion Defense Department loan. Broadcom fell nearly 2%; The Wall Street Journal reported it was arranging over $50 billion in financing for custom AI chips developed with OpenAI. Taiwan Semiconductor fell about 1% despite September revenue growing 54.6%. Lululemon slipped around 1% after leadership appointments. Levi Strauss declined nearly 3% following a revenue miss and weaker sales outlook. Applied Digital rose 1% as quarterly revenue increased 322% to nearly $342 million. Palantir gained over 2% after Goldman Sachs upgraded it to buy.
Shares in Applied Digital are advancing premarket, shrugging off a widening loss in its most recent quarter.
That's because the data-center company reported a more than fourfold revenue increase on the back of compute demand from AI hyperscalers.
Analysts had been expecting $116.3 million in revenue, up from $80.9 million a year prior. It came in at $341.9 million.
Applied Digital shares rose more than 3% ahead of the bell.
Applied Digital's (APLD.O) first-quarter revenue more than quadrupled, while its net loss widened from a year earlier as the company stepped up investments to meet growing demand for data center services.
Shares of the Dallas, Texas-based company, which develops and operates data centers to support AI and other high-performance computing tasks, were up nearly 2% in volatile extended trading on Wednesday.
Here are some details:
Its first-quarter revenue surged to $341.9 million from $80.9 million a year earlier, surpassing analysts' average estimate of $133.8 million, according to data compiled by LSEG
Net loss attributable to common stockholders stood at $221.0 million, or $0.76 per share, compared with $18.5 million, or $0.07 per share, a year earlier
As of August 31, Applied Digital had $3.7 billion in cash, cash equivalents and restricted cash, along with $6.4 billion in debt
Total costs and expenses jumped to $404.3 million in the quarter, from $90.7 million a year earlier
Applied Digital said costs rose due to higher spending to prepare data centers for customers, increased stock-based compensation and higher interest expenses as it expanded its AI infrastructure
"We are building for the long term, with a clear focus on developing large-scale, sustainable AI factory campuses and securing durable, high-quality, long-term contracts with proven, tier-one, investment-grade hyperscalers that are leaders in the AI industry," CEO Wes Cummins said in a statement
Value Aligned Research Advisors’ $20 billion flagship AI Fund fell 44% in July, cutting its year-to-date gain to 65% after returning nearly 200% through June, according to private performance information and an investor document. The New Jersey firm managed about $26.4 billion at June’s end, 16 months after launching. Founded by Ben Hoskin and David Field, VARA invests in companies benefiting from “transformative AI.” Its portfolio overlaps with Leopold Aschenbrenner’s Situational Awareness, including CoreWeave and Bloom Energy. Both funds faced pressure as leveraged, crowded AI bets triggered margin calls; turmoil at Situational Awareness added volatility and forced that firm to unwind trades. VARA declined to comment.
S3 Partners founder Bob Sloan said losses that forced Situational Awareness to sell stocks at steep discounts stemmed from concentrated, leveraged positions in crowded AI-related trades, not coordinated predatory short-selling. S3 found no broad increase in short sales among the fund’s leading holdings: short interest rose 122% in T1 Energy and 98% in Iren this year, but fell 10% in Sandisk and 7% in Applied Digital. Sloan said 30% to 40% of shorting in companies including CoreWeave and Core Scientific reflected convertible-arbitrage hedging. Situational Awareness later exited most public-equity positions, with Citadel buying a significant portion.
CoreWeave Inc. is seeking to raise the equivalent of $3.55 billion in US and European debt, including a €2 billion euro tranche that would be the first euro-denominated junk bond from a US AI infrastructure company, and a $1.25 billion dollar tranche, people familiar with the matter said. JPMorgan is leading the deal, with yields pitched at 8.5%-8.75% in euros and about 9.75% in dollars. The euro book has drawn more than €7 billion in orders. CoreWeave, rated below investment grade, has rapidly expanded borrowing to fund AI infrastructure, with expected 2026 investment of almost $35 billion and cash burn near $26 billion.
Applied Digital Corp.’s subsidiary raised $1.59 billion in junk bonds to fund additional CoreWeave computing capacity in North Dakota, pricing the debt at a 7% yield versus 10% for an earlier part of the same project in November. Bloomberg says the drop reflects eased investor concern about speculative-grade CoreWeave, whose five-year default-protection cost fell from 8.81 percentage points in December to 4.52 this month. The 2031 notes will fund a fourth Polaris Forge 1 building, providing 150 megawatts under a 15-year CoreWeave contract, and repay a Goldman Sachs bridge loan. Demand was five times the offering size, according to people familiar.
US stocks advanced Tuesday for a second session, with the S&P 500 up 1% and the Nasdaq 100 rising 1.3% at 9:49 a.m. in New York. Semiconductor shares led gains, as the Philadelphia Semiconductor Index climbed 2.2%, on pace for its strongest two-day rise in a month. Applied Digital jumped 9.3% after announcing a 15-year AI hyperscaler lease, while JM Smucker rose 10% on better-than-expected results. Stocks were also supported by President Donald Trump’s renewed claims on Iran peace momentum and AI enthusiasm. Traders remained focused on Wednesday’s CPI report, with Citigroup pricing a 0.9% S&P 500 move.
On June 9, 2026, S&P 500 futures rose 0.4% at 7:51 a.m. in New York as AI-linked stocks rebounded; Nasdaq 100 futures gained 0.8%. Applied Digital (APLD) climbed 11% after announcing a 15-year lease covering 210 megawatts with a US AI hyperscaler. CECO Environmental (CECO) gained 13% after updating its full-year outlook following its Thermon acquisition. Nuvalent (NUVL) surged 39% after GSK agreed to acquire it for $10.6 billion. Chinese cloud providers rose as sources said China was preparing roughly $295 billion in data-center spending over five years. SailPoint (SAIL) fell 13% following results and guidance; Vail Resorts (MTN) dropped 4% after cutting annual net-income guidance because of challenging weather.
At Goldman Sachs’ 11th annual leveraged finance and credit conference in Dana Point, AI data centers and power infrastructure dominated discussions amid subdued M&A financing. More than 400 investment executives and 85 borrowers attended, with AI-related firms included. Goldman’s Miriam Wheeler said AI is the leading focus for its capital solutions group, citing huge spending needs across data centers, power and chips. Companies have raised over $20 billion in US junk bonds in two months, while Apollo and Blackstone are expanding investor participation in a $36 billion Anthropic infrastructure deal. Bankers warned AI bond pricing may diverge if projects miss targets, while traditional M&A issuance remains uneven.