Galaxy Digital announced a $15 billion investment to expand its Helios AI data‑center campus in West Texas to a total capacity of 1.6 GW. The project includes an 800 MW lease to CoreWeave, valued at more than $7.5 billion, and an additional 830 MW build‑to‑suit commitment that will bring the campus to the projected 1.6 GW of power.
The company secured a $1.4 billion project financing facility to support the Helios development, underscoring the financial backing for the expansion. CoreWeave’s 800 MW lease provides a strong anchor tenant, while the 830 MW build‑to‑suit commitment signals confidence from other potential customers in the AI and high‑performance computing market.
"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," said Mike Novogratz, CEO of Galaxy Digital. "This project is a key step in diversifying Galaxy's business model as we expand beyond crypto and into the broader AI infrastructure space." "We're executing with focus and discipline to transform Helios into one of the largest and most advanced AI datacenter campuses in the world," Novogratz added. "That scale is only possible because of the strategy and groundwork we've put in place and the momentum our team is building every day." "This Phase II commitment with CoreWeave marks another major step in Galaxy's evolution as a trusted partner for the next generation of data center infrastructure," Novogratz said. "New and advanced digital infrastructure is already rapidly reshaping industries and opening new opportunities. Diversifying our business across blockchain, crypto and AI allows us to maximize cash flow and deliver greater value to shareholders."
The announcement was met with a positive market reaction, reflecting investor confidence in Galaxy Digital’s strategic pivot to AI infrastructure. Analysts noted that the $15 billion investment and the partnership with CoreWeave position the company to capture a growing share of the high‑performance computing market, which is expected to expand as demand for AI workloads accelerates.
The Helios expansion represents a significant shift in Galaxy Digital’s business model, moving from a primarily crypto‑financial services focus to a diversified portfolio that includes large‑scale data‑center operations. The investment, backed by substantial financing and a strong anchor tenant, signals the company’s intent to become a long‑term landlord for AI and high‑performance computing workloads, potentially creating new revenue streams and enhancing its competitive position in the rapidly evolving AI infrastructure landscape.
The move also aligns with broader industry trends, as AI and HPC demand are projected to grow structurally over the next decade. By securing large‑scale capacity and establishing a partnership with a leading AI cloud provider, Galaxy Digital is positioning itself to benefit from the structural shift toward compute‑intensive workloads, potentially improving long‑term cash flow and shareholder value.
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