Applied Digital Drops 4.9% as NVIDIA Exits Stake; Breaks Ground on 430 MW AI Campus
Applied Digital shares fell 4.9% to close at $31.91 after NVIDIA fully disposed of its Q4 neocloud stake, previously worth up to $177 million. Applied Digital broke ground on its Delta Forge 1 AI campus in Dallas, a 500-acre facility supporting 430 MW of power and generating over 200 jobs.
1. NVIDIA Sells Full Stake
NVIDIA completely liquidated its position in Applied Digital during Q4 2025, removing a neocloud holding previously valued between $17 million and $177 million on its 13F filing. This disposal follows NVIDIA’s broader shift to focus on CoreWeave and Nebius, signaling a strategic reprioritization within its AI infrastructure portfolio.
2. Stock Reaction
Applied Digital shares fell 4.9% to close at $31.91 on February 19, extending a six-day losing streak. The stock decline reflects investor concerns over the loss of a marquee backer and questions about funding continuity for the company’s cloud-oriented services.
3. Delta Forge 1 Campus
The company recently broke ground on its Delta Forge 1 AI campus in Dallas, a 500-acre development featuring two 150 MW facilities that collectively support 430 MW of utility power and 300 MW of critical IT load. Once operational, the site is expected to generate over 200 jobs and scale to meet rising demand for AI workload infrastructure.