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Riot secures $9.1B AI data center deal; Plug Power and SpaceX shares rise, Upwork falls on weak outlook

Market News
11 Aug 2026
Seeking Alpha
View Source
Bullish
pluang ai news

Riot Platforms announced a $9.1 billion, 20-year deal to supply AI data center capacity to Anthropic, with potential extensions up to $16.1 billion, driving a 20% premarket stock surge. Plug Power's shares rose 11% after beating Q2 expectations, improving gross margin to near breakeven, and raising its 2026 revenue growth target to 15%-16%. SpaceX shares rebounded above its $135 IPO price, closing at $138.74, marking its highest close since mid-July. Conversely, Upwork shares dropped 20% following a slight Q2 EPS miss and significantly weaker guidance for Q3 and the full year, raising concerns about its growth prospects.

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