Core Thesis - Equinix, Inc. is positioned as a leader in digital infrastructure with strong fundamentals despite recent share price declines, driven by increasing demand from AI and digital transformation [2][3] Company Overview - Equinix operates over 260 data centers in more than 75 metro areas, serving over 10,000 customers, including hyperscalers and cloud providers [2] - The company generates 94% of its revenue from recurring streams, with colocation accounting for 74% and interconnection for 18.6% [2] Financial Performance - The share price of Equinix was $801.31 as of January 13th, with trailing and forward P/E ratios of 72.05 and 48.54 respectively [1] - The company is expected to see a potential upside of 25.8% by 2027 and 50.7% by 2029 based on fair value estimates [4] Growth Strategy - Equinix plans to double its capacity by 2029, with capital expenditures projected to rise to $4–5 billion annually for developing AI-optimized, high-density data centers [3] - The company has a dense network of over 480,000 cross connections across 35 countries, leading to high customer retention rates exceeding 95% [3] Competitive Advantages - Equinix's scale, geographic reach, and ecosystem differentiation provide durable competitive advantages, justifying its premium valuation compared to peers [3] - The company demonstrates strong ESG leadership with 96% renewable energy usage and a 24% reduction in emissions since 2019, along with an AAA MSCI rating [4] Market Position - Equinix is well-positioned to benefit from the ongoing global digital infrastructure build-out, offering a compelling mix of resilience, growth, and sustainability [4]

Core Viewpoint - A class action lawsuit has been filed against CoreWeave, Inc. for allegedly misleading investors regarding its business operations and financial prospects during the class period from March 28, 2025, to December 15, 2025 [1] Company Developments - On July 7, 2025, CoreWeave announced an agreement to acquire Core Scientific to enhance operational efficiency and support future expansion [3] - The merger was terminated on October 30, 2025, after Core Scientific failed to secure enough shareholder votes for approval [3] - Following the merger news, CoreWeave's stock price dropped by $8.87, or 6.3%, closing at $131.06 per share [4] - On November 10, 2025, CoreWeave lowered its revenue guidance for 2025 due to delays from a third-party data center developer [4] - The CEO later revealed that multiple data centers were affected by the delays, not just a single one [4] - On November 11, 2025, the stock price fell by $17.22, or 16.3%, closing at $88.39 per share [5] - On December 15, 2025, it was reported that Core Scientific was the partner behind the delayed data centers, which had been flagged for delays nine months prior [5] - Following this news, CoreWeave's stock price fell by $2.85, or 3.9%, closing at $69.50 per share [6] Allegations in the Lawsuit - The lawsuit alleges that CoreWeave made materially false and misleading statements and failed to disclose adverse facts about its business and operations [7] - Specific allegations include overstating the company's ability to meet customer demand and understating the risks associated with reliance on a single third-party data center supplier [7] - The lawsuit claims that these misrepresentations were likely to have a material negative impact on the company's revenue and that positive statements made by the company lacked a reasonable basis [7]

Core Insights - Galaxy Digital's shares increased by 4% following the approval to add 830 megawatts of power capacity at its Helios data center in West Texas, raising the total approved load to over 1.6 gigawatts [1][2] - The expansion aligns with Galaxy's long-term strategy to enhance infrastructure for artificial intelligence and high-performance computing workloads [2] - CEO Mike Novogratz highlighted the unprecedented power demand for AI compute in Texas, indicating strong growth potential for the company [3] Company Developments - Construction is currently underway for the first phase of the Helios data center, with power delivery expected to commence in early 2026 [3] - Galaxy has signed a service agreement with AEP Texas, with Wind Energy Transmission Texas serving as the interconnection provider [2] - The company is actively exploring additional land and power options in Texas and other states to support its growth [3] Market Context - The stock's rise is notable amidst a general decline in the crypto sector, where Bitcoin has fallen below $96,000, affecting other companies like Coinbase, Circle, and MARA Holdings, which experienced declines of 3%-5% [4]

Group 1 - HIVE Digital Technologies Ltd. is trading at $3.25 with a trailing P/E of 14.13 as of January 12th [1] - In October 2025, HIVE produced approximately 289 BTC, representing an 8% month-over-month increase and a 147% year-over-year increase from October 2024, averaging 9.3 BTC per day [2] - HIVE's fleet efficiency is 17.7 Joules per Terahash (J/TH) with an average hashrate of 21.9 Exahash/s (EH/s), peaking at 23.6 EH/s, contributing over 2% to the global Bitcoin network hashrate [2] Group 2 - HIVE is expanding into Tier III+ AI and HPC data centers through its subsidiary BUZZ High Performance Computing, converting its Swedish site to support roughly 2,000 NVIDIA GPUs [3] - The company's focus on renewable energy and operational efficiency contributes to a strong ESG profile, appealing to institutional investors [4] - HIVE's investment case is strengthened by rapid production growth, cost-efficient operations, and strategic diversification into high-performance computing [4]

Core Viewpoint - Galaxy Digital Inc. is set to report its fourth quarter and full year 2025 financial results on February 3, 2026, before the market opens [1] Group 1: Financial Reporting - The financial results will be announced before the opening of Nasdaq and the Toronto Stock Exchange [1] - A conference call will be hosted by CEO Michael Novogratz and management at 8:30 AM Eastern Time on the same day to update investors and analysts [2] Group 2: Company Overview - Galaxy Digital Inc. is a global leader in digital assets and data center infrastructure, providing solutions that enhance finance and artificial intelligence [3] - The company's digital assets platform offers institutional access to various services including trading, advisory, asset management, staking, self-custody, and tokenization technology [3] - Galaxy operates a significant data center infrastructure, including a 1.6 GW Helios campus in Texas, making it one of the largest and fastest-growing data center developers in North America [3] - The company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia [3]

Core Insights - Galaxy Digital Inc. has received approval from ERCOT for an additional 830 MW of computing demand at its Helios data center campus, bringing the total approved capacity to over 1.6 GW, marking a significant advancement in AI and HPC infrastructure development [1][2][4] Group 1: Approval and Capacity Expansion - The new 830 MW approval effectively doubles the approved power capacity of the Helios campus, supporting multi-tenant partnerships and positioning Galaxy among the largest data center developers in North America [2][4] - The completion of the Large Load Interconnection Study (LLIS) and the subsequent approval from ERCOT are crucial steps in the long-term development of Helios [1][2] Group 2: Strategic Development and Future Plans - Construction is underway for the first phase of Helios, with initial power expected to be delivered in early 2026, expanding Galaxy's development runway for future AI and HPC workloads [3][4] - Galaxy is exploring additional power and land opportunities in Texas and beyond, leveraging the experience gained at Helios to support scalable and AI-ready infrastructure [4] Group 3: Company Overview - Galaxy Digital Inc. is a global leader in digital assets and data center infrastructure, focusing on solutions that accelerate progress in finance and artificial intelligence [6] - The company operates a 1.6 GW Helios campus in Texas, positioning itself as a key player in the rapidly growing data center market [6]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Group 1 - AI stocks have been central to the stock market rally over the past three years, with expectations for continued growth in the new year [1] - Wall Street projections indicate that the S&P 500 index could rise to 7,500 points by the end of 2026, driven by AI infrastructure spending, with Deutsche Bank forecasting an even higher target of 8,000 points [2] - Investors are encouraged to consider AI stocks for potential growth, with Applied Digital and SoundHound AI highlighted as strong candidates for investment in 2026 and beyond [3] Group 2 - Applied Digital is a significant player in the AI hardware ecosystem, focusing on data centers for high-performance computing and AI workloads [5] - The company reported a 250% year-over-year revenue increase to nearly $127 million, surpassing analyst expectations of $88 million, driven by data center services for clients like CoreWeave [6] - Applied Digital has secured lease contracts for 600 megawatts of data center capacity and is in advanced discussions with another hyperscaler, with a projected lease revenue pipeline of $11 billion over 15 years [8]

Core Insights - Applied Digital has appointed Jason Zhang as President, formalizing his leadership role as the company scales its AI Factory platform [1][2] - The appointment reflects Mr. Zhang's long-standing influence on the company's strategy and growth trajectory, working closely with co-founder Wes Cummins [2][3] - Mr. Zhang has a strong background in technology investment, having previously worked at Sequoia Capital and founded Valuefinder [3] Company Overview - Applied Digital designs, builds, and operates high-performance, sustainably engineered data centers for AI, cloud, networking, and blockchain workloads [4] - The company was founded in 2021 and is headquartered in Dallas, TX, recognized as the Best Data Center in the Americas 2025 by Datacloud [4] - Applied Digital utilizes proprietary waterless cooling and rapid deployment capabilities to deliver secure and scalable compute solutions [4]

Core Viewpoint - Soluna Holdings, Inc. has signed a Memorandum of Understanding with Metrobloks to co-develop Project Kati 2, a data center aimed at supporting AI and high-performance computing, with an initial capacity of over 100 MW [1][2]. Group 1: Project Overview - Project Kati 2 will be located in Willacy County, Texas, and is expected to be the first phase of a larger campus with a total capacity roadmap exceeding 300 MW [1]. - The partnership aims to leverage Soluna's renewable energy resources and Metrobloks' AI-ready infrastructure to expedite the deployment of high-density computing solutions [2][4]. Group 2: Partnership Details - Metrobloks will lead the design, development, leasing, and operations of Project Kati 2, while Soluna will provide site control, power entitlements, and development expertise [3]. - Both companies will collaborate to secure third-party capital for the project, which is currently under a non-binding letter of intent from a potential tenant [3][4]. Group 3: Market Demand and Infrastructure - The project addresses the urgent market demand for available power and capacity for AI and HPC applications, with a focus on scalable solutions [4]. - Soluna's existing infrastructure at Project Kati, which broke ground in September 2025, is designed to support both digital assets and AI workloads, establishing it as a dual-purpose facility [4].