Galaxy Digital's Helios Unit Plans $3.5B Debt Offering for CoreWeave AI Data Center
GLXY sits 54% above its 52-week low of $16.43 on light trading volume (0.2× avg).
Summary
Galaxy Digital's Helios data center subsidiary is launching a $3.507 billion senior secured note offering to fund Phase II of its Texas AI data center, fully leased to CoreWeave. The project has $10.4 billion in minimum contracted lease payments over 15 years, with rent starting in Q2 2027 and a 13.7% starting yield on cost. This follows the recent completion of Phase I's 133 MW delivery to CoreWeave and significantly scales Galaxy's AI infrastructure footprint—the broader campus now has 1.63 GW of approved capacity and 800 MW leased. The debt financing, while large relative to Galaxy's ~$9.8 billion market cap, is project-level and secured by contracted cash flows, reducing equity dilution risk. The deal underscores Galaxy's pivot toward stable, recurring AI/HPC revenue streams beyond its core crypto operations.
At the time of this announcement, GLXY was trading at $25.23 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $9.8B. The 52-week trading range was $16.43 to $45.92. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.