Rosenblatt says HPC selloff creates buying opportunity in Galaxy Digital and Cipher Digital

AnalystDigital Finance
โดย Yahoo Finance·Read original
Summary · why it matters

Rosenblatt Securities analyst Chris Brendler said the recent selloff in high-performance computing-linked stocks was overdone, creating a buying opportunity in Galaxy Digital and Cipher Digital. Galaxy Digital had fallen 22% over the prior two weeks while Cipher Digital dropped 13% as of the note's publication on July 2. The selloff intensified after a July 1 Bloomberg report that Meta Platforms was building a cloud operation aimed at outside customers, raising concern it could become a competitor in the neocloud stack. Brendler dismissed the fear, writing that the firm does not view the Meta news as a negative demand signal and pointing to a colleague's assessment that the story appeared company-specific with no indication of a shift in contracted demand. He highlighted Galaxy Digital's direct exposure to CoreWeave, with its Helios data center campus expanding the partnership by an additional 133 megawatts of critical IT load, leaving CoreWeave committed to the site's entire 800-megawatt gross-power approval. On Cipher Digital, Brendler said the pullback widened a persistent valuation disparity and framed the decline as a cheaper entry into the miner-to-HPC pivot theme without signaling deteriorating fundamentals.

Impact on stocks 4

Digital Finance & Tokenization▲ · 2 stocks
Cipher Mining Inc
CIFR
▲ PositiveCapitalrelevance

Analyst says selloff overdone, creating buying opportunity; highlights valuation disparity and miner-to-HPC pivot.

Galaxy Digital Holdings Ltd
GLXY
▲ PositiveCapitalrelevance

Analyst says selloff overdone, creating buying opportunity; highlights direct exposure to CoreWeave.

Artificial Intelligence▲ · 1 stocks
Spatial Computing / AR/VR▲ · 1 stocks
Meta Platforms Inc.
META
± MixedCompetitionrelevance

Meta's cloud operation raised concern as potential competitor, but analyst dismisses as company-specific and not a demand signal.

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