Galaxy Digital Boosts AI and HPC Growth with Expanded CoreWeave Partnership, Shares Surge
Galaxy Digital (GLXY) saw its stock rise 8%, with shares now 60% higher than their lows earlier in April, following the announcement of an expanded strategic partnership with CoreWeave (CRWV). This development signals Galaxy’s continued focus on the rapidly expanding markets of artificial intelligence (AI) and high-performance computing (HPC).
Under the new terms of the deal, CoreWeave will gain an additional 260 megawatts (MW) of critical IT load at Galaxy’s Helios data center campus in West Texas, boosting the total AI and HPC capacity at the site to 393 MW.
This agreement marks another step in Galaxy’s shift away from its focus on bitcoin mining. The Helios campus, acquired from Argo Blockchain in 2022, is rapidly transforming into a key site for next-generation infrastructure. Mike Novogratz, CEO of Galaxy Digital, emphasized the company’s strategy of diversifying its business to include blockchain, crypto, and AI, which positions the firm to create sustained value for shareholders over the long term.
Following the news, Galaxy shares surged by 8%, while CoreWeave saw its stock climb by as much as 13%, maintaining a 10% gain as of recent trading.
The new deal follows the Phase I lease agreement signed in March, which secured 133 MW over 15 years. The Phase II commitment mirrors these terms and reflects both parties’ confidence in the site’s capabilities and its strategic location. Phase I is set to be operational by mid-2026, while Phase II is expected to be online in 2027.
With 800 MW of approved capacity and an additional 1.7 gigawatts currently under review, the Helios campus is positioned for significant expansion.
Alongside this AI and HPC growth, Galaxy is also exploring ways to monetize its legacy bitcoin mining assets, signaling a clear pivot in its operational focus.
