Riot Platforms Secures $9.1 Billion Computing Deal with AI Research Firm Anthropic

Riot Platforms has signed a massive 20-year computing deal worth US$9.1 billion with AI safety and research company Anthropic. According to a report, Riot will supply 191 MW of computing capacity from its Rockdale campus in Texas through June 2048 under the agreement.

The deal includes options for Riot to extend the contract by five years each, which could bring the total sales to as much as US$16.1 billion.

Riot's shares rose 25 percent to US$24.40 in late trading after the announcement, with the company now among a group of cryptocurrency miners repurposing their power and data center infrastructure for artificial intelligence workloads.