WhiteFiber (NASDAQ:WYFI), an AI infrastructure and data center connectivity company, fell more than 13% on June 24 as elevated-multiple technology stocks broadly sold off in a risk-off session.

Key Highlights

• Shares closed at $38.71, down more than 13% on June 24, with no company-specific negative catalyst identified.

• WhiteFiber provides AI infrastructure and data center connectivity solutions, benefiting from the AI buildout narrative.

• The stock had appreciated significantly on data center expansion enthusiasm before the session's sell-off.

• Valuation-driven derating in high-multiple AI infrastructure names drove the June 24 decline.

WhiteFiber (NASDAQ:WYFI) closed at $38.71 on June 24, falling more than 13% as valuation-driven profit-taking hit AI infrastructure and data center connectivity stocks across the session.

The company operates in the AI infrastructure and data center connectivity space, a segment that has attracted substantial investor capital on the back of hyperscaler expansion programs and growing demand for high-speed interconnects in AI compute clusters. WhiteFiber had benefited from this thematic tailwind, which drove a significant prior appreciation in the share price.

When risk appetite for high-multiple growth names deteriorates broadly, AI infrastructure stocks are among the first to see derating, as their valuations embed optimistic assumptions about long-term revenue expansion that become harder to sustain when institutional risk tolerance contracts.

No company-specific negative announcement, customer loss, or guidance change was identified on June 24. The session's decline reflects macro valuation dynamics in the technology sector rather than any change in WhiteFiber's competitive position or financial trajectory.