We present our work on developing and training scalable graph foundation models (GFM) using HydraGNN, a multi-headed graph convolutional neural network architecture. HydraGNN expands the boundaries of graph neural network (GNN) in both training scale and data diversity. It abstracts over message passing algorithms, allowing both reproduction of and comparison across algorithmic innovations that define convolution in GNNs. This work discusses a series of optimizations that have allowed scaling up the GFM training to tens of thousands of GPUs on datasets that consist of hundreds of millions of graphs. Our GFMs use multi-task learning (MTL) to simultaneously learn graph-level and node-level properties of atomistic structures, such as the total energy and atomic forces. Using over 150 million atomistic structures for training, we illustrate the performance of our approach along with the lessons learned on two United States Department of Energy (US-DOE) supercomputers, namely the Perlmutter petascale system at the National Energy Research Scientific Computing Center and the Frontier exascale system at Oak Ridge National Laboratory. The HydraGNN architecture enables the GFM to achieve near-linear strong scaling performance using more than 2,000 GPUs on Perlmutter and 16,000 GPUs on Frontier. Hyperparameter optimization (HPO) was performed on over 64,000 GPUs on Frontier to select GFM architectures with high accuracy. Early stopping was applied on each GFM architecture for energy awareness in performing such an extreme-scale task. The training of an ensemble of highest-ranked GFM architectures continued until convergence to establish uncertainty quantification (UQ) capabilities with ensemble learning. Our contribution opens the door for rapidly developing, training, and deploying GFMs using large-scale computational resources to enable AI-accelerated materials discovery and design.