Riot Platforms stock jumps after $1B AMD AI deal

Core Insights - Riot Platforms is expanding its operations by entering a significant partnership with AMD, marking a shift towards artificial intelligence infrastructure in response to increasing AI demand [1][2] - The company is part of a trend among Bitcoin miners who are repurposing their resources to support AI and high-performance computing due to tighter margins and volatile energy costs [2][3] Partnership and Financials - Riot signed a long-term Data Center Lease and Services Agreement with AMD, which is expected to generate approximately $311 million in revenue, with the potential total contract value reaching $1 billion over 10 years [4] - The initial lease covers 25 megawatts (MW) of critical IT load, with phased delivery scheduled from January 2026 to May 2026 [4] Land Acquisition and Capacity - Riot acquired land at its Rockdale site in Texas for $96 million, funded by selling approximately 1,080 BTC [5] - The company now owns and manages over 1,100 acres and 1.7 gigawatts (GW) of power capacity across two Texas facilities, enhancing its position in the Texas Triangle [6]