Galaxy Lands $1.4B for Helios Data Center Expansion as CoreWeave Commits to 800 MW

Galaxy, the Nasdaq-listed digital asset funding agency, mentioned on Friday it has secured $1.4 billion in funding to broaden its Helios information heart in West Texas, a part of the agency’s push to increase computing capability for synthetic intelligence (AI) and high-performance computing (HPC).

The debt facility, which covers 80% of development prices, runs for 36 months and can fund the retrofit and enlargement of the positioning, the agency mentioned in a press launch. Galaxy has already contributed $350 million in fairness.

Shares fell 2.2% in early buying and selling, together with the broader market pullback.

The deal follows a lease settlement with AI cloud supplier CoreWeave (CRWV), which has now dedicated to all 800 megawatts of accepted energy capability at Helios. The first part is scheduled to ship energy to CoreWeave’s operations in early 2026 beneath a long-term contract, founder and CEO Mike Novogratz mentioned.

The agency projected the CoreWeave deal may deliver in additional than $1 billion in common annual income over 15 years.

Galaxy, recognized primarily for its crypto buying and selling, asset administration and enterprise companies, is increasing its information heart operations as U.S. tech corporations scramble for energy and compute sources amid rising AI competitors. TeraWulf (WULF), a former bitcoin

miner that pivoted to HPC, soared over 50% on Thursday on signing a 10-year, $3.7 billion AI internet hosting contract with Fluidstack and tech big Google, taking an 8% stake within the agency.

Jefferies mentioned in a July report that two thirds of Galaxy’s worth may stem from its information heart enterprise.

Read extra: TeraWulf Jumps 22% on $3.7B AI Hosting Deal, With Google Taking 8% Stake