Galaxy Digital (GLXY) is positioned as a potential AI data center powerhouse, with its Helios II facility's construction possibly underway as of July 20. Investors should watch GLXY's earnings on August 5th for updates on its AI data center business, as the market may be underestimating its capacity. The company's Helios campus is already permitted for 800 MW and could reach ~2.5 GW, with 133 MW of AI load due in 2026, placing it ahead of many peers in terms of permitting and grid readiness.