US Stock Market Moves: Galaxy Digital Surges on October 21 as StoneX Maintains Buy Rating and AI Data Center Remains Undervalued

Galaxy Digital October 21 Surge Analysis

Keywords: StoneX Maintains Buy, AI Data Center Undervaluation

1. On October 20, StoneX reiterated its Buy rating on Galaxy Digital and maintained its $57 target price, believing that the current valuation underestimates its AI data center business and has almost not reflected the value of its digital asset business.

2. On October 20, the StoneX report mentioned that the initial 800-megawatt capacity of Galaxy's Helios campus in West Texas is leased entirely to CoreWeave as the sole tenant; over the five quarters ended in June, CoreWeave's contract backlog increased nearly fourfold to $104 billion, GPU rental prices remained robust, and demand for computing power continued to exceed supply.

(Disclaimer: This content is generated by AI using publicly available information for summary purposes only. It is for reference only and does not constitute investment advice.)