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Applied Digital Falls 7% and IREN Drops 13% as Data Center Selloff Broadens

IREN (Iris Energy) logoIREN (Iris Energy)
Sig2.85Sen-6.70Env0.00Soc0.00Gov0.00
Applied Digital logoApplied Digital
Sig1.90Sen-3.70Env0.00Soc0.00Gov0.00

AI data center pure plays are falling together as IREN’s fiscal 2026 impairment charge weighs on capex-heavy peers and resets market expectations for its shift from Bitcoin mining to AI compute. IREN stock drops about 13% after reporting, while Applied Digital, TeraWulf, and Core Scientific also slide amid a broader unwind, though a data-center ETF drops only slightly.

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