Riot Platforms signs a $9 billion AI data center deal with Anthropic

Riot Platforms shares jumped over 20% before U.S. markets opened on Tuesday, following reports that Anthropic is the buyer behind a $9.1 billion, 20-year deal to lease AI computing capacity from the Bitcoin miner’s Texas campus.

When Riot Platforms announced the deal on Monday, it did not reveal the other party, calling the tenant only “one of the world’s leading frontier AI labs.” Hours later, Bloomberg reported that the customer was Anthropic, citing people familiar with the matter.

After the report, retail trading activity picked up. RIOT became the most-discussed ticker on Stocktwits, and sentiment changed from ‘bullish’ to ‘extremely bullish.’ The stock gained over 26% overnight. And even before Monday’s jump, the stock was already up 53% for the year.

Riot leases 191 megawatts at Rockdale through 2028

The contract includes 191 megawatts of capacity at Riot’s Rockdale, Texas site and lasts for 20 years. Two possible five-year extensions could raise the total value to $16.1 billion. 

… Continue reading the full article at the original source below.