New York, May 13, 2026, 04:11 EDT
- DGXX hovered just below $9 in early premarket, following a 12.92% climb to $8.39 at Tuesday’s close. Traders are waiting for Friday’s Q1 report and operations update.
- This rally doesn’t hinge on immediate earnings. It’s really a bet on Digi Power X’s ability to turn its Cerebras and SubQ AI partnerships into actual, timely, funded data-center revenue.
- Bulls are eyeing a small company they say is carving out a niche in AI infrastructure. Bears counter with worries about construction risk, the stock’s steep climb, and the possibility of dilution from an at-the-market share sale program capped at $175 million.
Digi Power X Inc. is drawing buyers ahead of the open, with DGXX sitting near $9 in the early premarket following Tuesday’s 12.92% surge. It’s a familiar setup: momentum in the stock, and now a date on the calendar—May 15—for Q1 results and an operational update from management.
This isn’t just another routine small-cap update—Friday’s call carries more weight. Investors are watching for solid signs that Digi Power X is actually progressing on its pivot from crypto mining into AI infrastructure. They’re looking beyond announcements, wanting to see real work orders, power being delivered, construction checkpoints hit, and—crucially—cash actually coming in. The focus is on GPU-as-a-Service: renting out high-performance AI chips instead of selling hardware. That’s what the market’s trying to put a price on.
That explains the action on the chart. Shares of Digi Power X just put together three consecutive regular-session gains, starting at $6.63 on May 8 and finishing at $8.39 as of May 12. Trading picked up, too, with nearly 21 million shares moving on Tuesday. Since closing at $3.76 back on May 1, the stock’s already surged over 120%—a run that’s being driven by both fundamentals and momentum.
The big driver here is still the Cerebras Systems deal revealed last week. Digi Power X says it’s a 10-year commitment for a purpose-built, 40-megawatt AI data center campus in Columbiana, Alabama—starting at around $1.1 billion, with the full value climbing to as much as $2.5 billion if all renewal options are exercised. Colocation, simply put, lets a customer rent out heavy-duty compute space and infrastructure at the site.
The size of that contract stands out against Digi Power X’s existing numbers. For fiscal 2025, the company logged $34.2 million in total revenue. It finished the year with $78.5 million in cash, zero debt, plus $14.8 million held in digital currency. So when a deal lands with a $1.1 billion headline figure, it forces traders to rethink the story—even if the dollars won’t show up right away.
Executives keep pushing the narrative. Chairman and CEO Michel Amar labeled the Cerebras agreement “transformational,” adding, “We are no longer building toward the top tier of this industry. We are in it.” Investors seem to be going along, at least for the moment, but they’ll expect concrete dates and spending figures before long. ACCESS Newswire
Timing stands out as a key factor here. Digi Power X projects its revenue from the Cerebras deal won’t start flowing in until late 2026, with the full ramp pegged to coincide with complete deployment in Q1 2027. The company aims to have Phase 1 ready for service by December 15, 2026. Construction for this first phase is self-funded, according to the company.
SubQ AI is in focus for near-term revenue. Digi Power X has landed a 24-month bare-metal GPU rental deal with SubQ, pegged at an expected $19.6 million. The contract kicks in May 15—the same day as the earnings update—a detail traders are watching. There’s about $2.95 million coming upfront.
Digi Power X has wasted little time jumping from a speculative story to locking in notable AI clients. Cerebras is on board as a major anchor, and SubQ is already generating the first AI revenues. The company says it’s secured around 400 megawatts of power at sites in Alabama, New York, and North Carolina. For a smaller infrastructure player, power isn’t some minor operational footnote—it’s the rare resource that sets the pace.
Funding is the core of the bear case here. Digi Power X bumped up its at-the-market equity program on May 8, authorizing sales of as much as $175 million in subordinate voting shares. With an at-the-market setup, the company can steadily sell fresh stock into the market. If the share count expands more quickly than the business itself, existing holders take the dilution hit.
Execution risk can’t be ignored here. The company is stepping into a costly, energy-intensive AI data center cycle—and peers illustrate the highs and lows. IREN just rolled out a strategic tie-up with Nvidia that could bring up to 5 gigawatts of AI infrastructure online. Over at CoreWeave, Q1 revenue hit $2.08 billion, backed by a $99.4 billion backlog, but it still posted a net loss of $740 million. Applied Digital? It just secured a $300 million bridge loan to keep building out its North Dakota data center.
A recent filing throws in a bit of market-structure intrigue, but stops short of signaling outright bullishness. Citadel-linked reporting persons submitted a Schedule 13G dated May 12, with Kenneth Griffin showing a beneficial stake of 3.55 million shares, or 4.9% of the class. The document notes these shares aren’t intended to influence or change control—so, no activist intentions here.
DGXX’s rally comes as traders increasingly treat it like an AI infrastructure play—not just another crypto miner looking for a new angle. That’s a high bar. When Friday’s update lands, investors want proof: construction on track, customers lining up, and a funding plan that doesn’t wipe out potential gains with dilution.
