Digi Power X (NASDAQ: DGXX) released first-quarter 2026 financial results on Friday, saying its NeoCloudz GPU cloud platform is live and has generated its first AI revenue. The company said it holds roughly $125 million in cash with zero long-term debt.
Shares of DGXX traded down 4.2% in pre-market hours, but remain up 8.9% on the five day, per Yahoo Finance.
Digi Power X said it has deployed $45 million in year-to-date capital expenditures at its Columbiana, Alabama site. The company described itself as an AI data center infrastructure operator with a vertically integrated portfolio of power assets and data center capacity across Alabama, New York and North Carolina, with about 400 MW of secured power.
The NeoCloudz platform provides GPU-as-a-Service on dedicated NVIDIA infrastructure, according to the release. The $125 million cash figure represents an increase from the $78.5 million the company reported at the end of fiscal year 2025 on March 31.
The Q1 release marks the first results update since Digi Power X said in its fiscal-year 2025 report that it expected to generate initial AI revenue after the completion of testing in April. The company had framed fiscal 2025 as the first stage of its shift away from cryptocurrency mining toward AI infrastructure.
"Twelve months ago, Digi Power X was a cryptocurrency mining company with $1.7 million in cash. Today, we have $78.5 million in cash, zero debt and a commissioned AI data center platform, and we expect to generate our first AI revenues following the completion of testing in April," CEO Michel Amar said in the March 31 fiscal-year 2025 release.
The company has announced several AI-related developments over the past six months. In December 2025, Digi Power X said it had completed its first NVIDIA B200 GPU cluster in Alabama and expected to begin data processing in Q1 2026. On May 5, the company announced a master services agreement with Cerebras Systems for a 40-megawatt AI data center campus in Columbiana.
In its fiscal-year 2025 results, Digi Power X said total revenue was $34.2 million, down 8% from 2024. Colocation revenue rose to $17.5 million from $15.8 million, while energy revenue increased to $13.2 million from $4.6 million. The company said the transition to AI infrastructure was executed without incurring any debt.
