Galaxy Digital (NASDAQ:GLXY) is one of the 10 Stocks With Easy 9-30% Upside.
Galaxy Digital surged for a 5th consecutive day on Thursday, climbing 11.32 percent to close at $21.15 apiece after announcing an ambitious goal of developing “multi-hundred-billion-dollar” worth of digital infrastructure assets as it eyes capturing a significant share in the rapidly growing AI.
In its first annual report with the Nasdaq, Galaxy Digital (NASDAQ:GLXY) said that among its planned assets, its flagship data center called Helios would represent an investment worth more than $15 billion, making it an asset “with durable, high-return characteristics for shareholders.”
Photo from Galaxy Digital website
Helios was approved to develop 1.6 GW of capacity to power the next generation of AI and high-performance computing.
“Demand for compute is not a cycle. It is a structural condition that will define the next decade. We intend to be one of the companies that meet it,” the company said.
In other news, Galaxy Digital (NASDAQ:GLXY) last month pulled out of the Toronto Stock Exchange to focus on its listing with the Nasdaq.
It said that the withdrawal was aimed at focusing on its listing on the Nasdaq, where the majority of its average daily trading volume is executed on the said Exchange.
The initiative would also help slash its expenses and administrative requirements associated with its dual listing.
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