Applied Digital Sinks 4% as Rotation Out of Debt-Funded AI Builders Extends; TeraWulf Dips 3%, Core Scientific Retreats 2%

JPMorgan just downgraded Applied Digital's bonds and the stock is sliding, yet management is already lining up its next round of borrowing to fund three more data centers. Find out whether the bull case on $36 billion in contracted revenue can survive a growing debt stack.