Riot Platforms (RIOT) attracted renewed investor interest following a July 22 deal between AMD and Anthropic. AMD will invest up to $5 billion in the AI firm. The partnership includes the supply of 2 gigawatts of AI accelerators.
Analysts expect AMD to expand data center capacity at Riot’s facilities to support this demand. This move supports Riot’s strategic transition from Bitcoin mining to AI infrastructure. Riot currently leases up to 200 megawatts of capacity to AMD at its Rockdale, Texas, site.
Morgan Stanley recently issued a Buy rating for Riot Platforms. Other analysts provided positive commentary regarding the potential for expanded leasing agreements.