Riot Platforms (RIOT) Stock Surges 25% on $9 Billion Anthropic Data Center Deal
TLDR
- Riot Platforms surged 25% in after-hours trading to $24.40 after disclosing a $9.1 billion data center deal
- Bloomberg confirmed Anthropic is the unnamed “leading frontier AI lab” behind the agreement
- The deal covers 191 megawatts of computing capacity at Riot’s Rockdale, Texas campus through June 2048
- Two five-year extension options could push total contract value to $16.1 billion
- Riot reported Q2 revenue of $174.2 million, up 14% year-over-year, but posted a net loss of $237.2 million
Riot Platforms stock closed down 5.46% on Monday before rocketing more than 25% in after-hours trading to $24.40, after the company revealed a massive data center lease agreement.
Riot disclosed the deal without naming its customer, describing them only as a “leading frontier AI lab.” Bloomberg later reported the customer is Anthropic, the company behind Claude.
The agreement covers 191 megawatts of IT capacity at Riot’s Rockdale campus in Texas. The contract runs through June 2048 and is expected to generate $9.1 billion in revenue for Riot over that period.
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