Galaxy Digital Shares Close 6.72% Higher After Hours — Here's What Could Be Powering The Stock
Galaxy Digital Inc. (NASDAQ:GLXY) shares climbed in after-hours trading Wednesday, seemingly fueled by optimism about its expansion into high-performance computing.
What happened: The digital asset and AI infrastructure company announced a 29 million share offering last month to fund the continued expansion of high-performance computing infrastructure at its Helios data center campus in West Texas.
Before this, Galaxy entered into a new agreement with AI cloud-computing provider CoreWeave Inc. (NASDAQ:CRWV), committing to an additional 260 megawatts at the Helios data center.
The company was also taking strides in its core cryptocurrency business. It announced a partnership with the staking protocol Liquid Collective to help drive the institutional adoption of liquid staking.
Galaxy has traded on the Toronto Stock Exchange and OTC markets since 2020, but the company made its debut on Nasdaq last month. The company was founded by billionaire Mike Novogratz and is reportedly in talks with regulators regarding the tokenization of the company’s stock.
Price Action: Shares of Galaxy were up 6.72% in after-hours trading after closing 2.97% higher at $19.04 during Wednesday's regular trading session, according to data from Benzinga Pro. Since its launch, the stock has tumbled 19%.
Meanwhile, CoreWeave shares dipped 0.29% after-hours following a decline of 1.12% in the regular session.
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Posted-In: AI CoreWeave Galaxy Digital High Performance ComputingCryptocurrency News Markets Tech
