On September 28, Cipher Mining Inc. declined 5.08% in regular trading, trading at $16.835/share, with turnover of approximately $136 million. The decline came despite the company announcing a major lease extension at its Barber Lake site on September 25, expanding the term to 20 years and adding roughly $5.2 billion of contracted revenue.

The pullback appears tied to broader sector pressure and lingering caution around AI infrastructure valuations. Rothschild & Co Redburn recently initiated coverage of Cipher Digital with a Neutral rating, as part of a wider report warning that credit markets are pricing in risks that equity markets have largely ignored regarding AI data center buildouts. The firm flagged concerns over elevated economic leverage among hyperscalers and the sustainability of expansion commitments across the AI infrastructure chain.

Within the Application Software sector, declines were widespread, with IREN Ltd down 3.98%, Adobe down 2.59%, Salesforce down 1.91%, Strategy down 1.69%, and Palantir Technologies down 1.13%. UBS and Wells Fargo recently initiated coverage with Buy and Overweight ratings respectively, with price targets of $23 and $25, while the analyst consensus target stands near $30.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)