Galaxy Digital Inc. stock rose 5.1% in morning trading Friday, as crypto-linked equities advanced across the board.

The gains follow Morgan Stanley's decision in early September to maintain its Overweight rating on Galaxy Digital while raising its price target to $48. The firm cited the company's dual positioning in digital asset services and AI-driven data center infrastructure.

Galaxy Digital recently secured approvals from ERCOT, expanding its Texas data center pipeline to 5.7 GW. The development marks a step forward in the company's high-performance computing operations.