Riot shares jump 8% as AMD doubles data center deal, signaling shift to AI computing.

Riot Platforms' shares rose 8% after AMD expanded its data center capacity at Riot's Texas site from 25MW to 50MW, with an option to grow to 150MW. This deal could generate about $636 million over 10 years, marking Riot's strategic shift from bitcoin mining to AI and high-performance computing. Additionally, Riot secured better financing terms, lowering its credit rate and reducing bitcoin collateral, reflecting lender confidence in its expanding data center business. The move aligns with Riot's efforts to diversify revenue as bitcoin mining income declines due to market pressures.