Riot Platforms Stock Surges on $9B Anthropic Deal
Riot Platforms, an American company formerly known as Bioptix, has announced a major deal with Anthropic, a leading frontier AI firm. The two companies have agreed to a $9.1 billion contract that will provide Anthropic with computing capacity from Riot's Rockdale, Texas campus for the next 20 years.
The agreement includes an option for two five-year extensions, which could potentially increase the total value of the contract to as much as $16.1 billion. This deal marks a significant step in Riot's transformation from a cryptocurrency miner into an AI infrastructure provider.
Riot has also signed an agreement with Advanced Micro Devices to build AI computing infrastructure, and together these deals will generate about $520 million in average annual revenue for the company.