Digi Power X Closes $15 Million Stock Offering to Boost AI Infrastructure

Digi Power X ( (TSE:DGX) ) just unveiled an announcement.

Digi Power X has successfully closed a $15 million registered direct offering of common stock to a new institutional investor, enhancing its cash position to over $30 million with no debt. The proceeds will be used to expand its NeoCloud AI infrastructure, accelerate manufacturing and distribution of ARMS 200 pods, and support strategic joint ventures, positioning the company for growth in the AI and digital infrastructure market.

The most recent analyst rating on (TSE:DGX) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Digi Power X stock, see the TSE:DGX Stock Forecast page.

Spark’s Take on TSE:DGX Stock

According to Spark, TipRanks’ AI Analyst, TSE:DGX is a Neutral.

Digihost Technology’s stock score reflects a mixed outlook. The company’s financial performance shows significant challenges with ongoing losses, impacting overall profitability. However, the technical analysis indicates strong upward momentum, suggesting market optimism. While the valuation is hindered by a negative P/E ratio, the earnings call and recent corporate events point to potential growth opportunities through strategic expansion and revenue diversification. Investors should weigh these opportunities against the persistent financial challenges.

To see Spark’s full report on TSE:DGX stock, click here.

More about Digi Power X

Digi Power X is a vertically integrated AI and energy infrastructure company that designs and deploys modular Tier 3 data centers through its ARMS platform and offers enterprise-grade GPU compute via its NeoCloud portal, utilizing advanced NVIDIA GPU technology and secured energy infrastructure.

Average Trading Volume: 40,037

Technical Sentiment Signal: Buy

Current Market Cap: C$180.4M

See more data about DGX stock on TipRanks’ Stock Analysis page.