Nvidia Exits $177M Stake in Applied Digital, Triggering 8% Stock Drop
Nvidia's latest 13F filing revealed a sweeping portfolio realignment, including the complete divestment of its $177 million position in Applied Digital. The chipmaker sold approximately 7.72 million APLD shares held through Q4 2025, sending the stock tumbling 8.4% in after-hours trading.
The move comes just 16 months after Nvidia participated in Applied Digital's $160 million funding round, raising questions about shifting strategic priorities. While Northland Capital maintains its 'Outperform' rating—citing APLD's 4.3 GW development pipeline—the exit underscores volatility in infrastructure investment plays.
Nvidia simultaneously unveiled new positions totaling $7.9 billion in Intel, Nokia, and Synopsys, signaling a pivot toward Core semiconductor and AI infrastructure assets. The reshuffle occurs as hyperscalers increasingly dominate data center spending, leaving smaller operators scrambling for capital.
