# Novogratz Says He Is Buying Galaxy Shares Amid 8% Stock Slide

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/50720
Published: 2026-11-07T09:25:43.000Z
Updated: 2026-11-07T09:25:43.000Z
Section: Business

> He tied the purchase to long-term growth in onchain finance and artificial intelligence as Galaxy shares ended Thursday down about 8%.

Galaxy Digital CEO Mike Novogratz said Thursday, Nov. 5, that he was buying more shares in the company as the stock finished the session about 8% lower amid a broader market selloff. He tied his view to Galaxy’s longer-term business prospects, pointing to onchain finance and demand for artificial intelligence.

Novogratz described a gap between Galaxy’s market valuation and what he believes the business is worth. He argued that politics should not be confused with a company’s long-term outlook. “Let’s not confuse politics with long-term fundamentals,” he wrote.

He characterized the shift of finance onto blockchain networks and rising AI demand as generational changes that would persist across administrations and market cycles. He also pointed to progress at Galaxy’s Helios project in Texas. The first phase of Helios finished on schedule, with long-term leases covering 800 megawatts.

Novogratz said Galaxy would continue engaging with Texas lawmakers and local communities under the new administration. He named reliable electricity, water protection and local economic interests as priorities.