Digital asset investment firm Galaxy Digital (GLXY) said on Friday it agreed to a $460 million private investment from one of the world’s largest asset managers, a deal that would add cash for its growing data center business and general corporate needs.The investment, from the undisclosed firm, is split between 9,027,778 new Class A shares issued by Galaxy and 3,750,000 shares sold by certain executives, including founder and CEO Mike Novogratz, at $36 per share, according to the press release. That's an 8.5% discount from Friday's closing price."Strengthening our balance sheet is essential to scaling Galaxy's data center business efficiently while maintaining the financial flexibility to support future growth," said Novogratz. "Having one of the world's largest and most sophisticated institutional investors make such a significant investment in our company will support our strategic vision and our ability to build leading businesses across digital assets and data centers."The transaction is slated to close on or about October 17, subject to customary conditions, including approval by the Toronto Stock Exchange.Mining to AIThe firm said the funds will help build out its Helios data center campus, which is scheduled to deliver 133 megawatts of critical IT load in the first half of 2026 under its Phase One lease.Galaxy bought Helios from struggling miner Argos in 2022 to operate as a mining operation. However, as bitcoin mining became increasingly difficult with thin margins, Galaxy, like many other miners, pivoted its mining operations towards a data center for AI and HPC computing. Since then, Galaxy has been increasingly investing in Helios to rapidly expand and reinvent it as an AI and HPC hosting data center.The new deal comes after Galaxy announced this summer that it had secured $1.4 billion in funding to expand Helios. That deal followed a lease agreement with AI cloud provider CoreWeave (CRWV), which has now committed to all 800 megawatts of approved power capacity at Helios.This AI push by Galaxy has been a welcome development in the market, as investors and analysts view the pivot as a move that could add more value to the stock. Galaxy shares jumped 3% in post-market trading on the news of the new deal. Read more: The Bull Case for Galaxy Digital Is AI Data Centers Not Bitcoin Mining, Research Firm Says