On August 12, Riot Platforms rose 8.79% in regular trading, trading at approximately $21.33/share, with turnover of $96.38 million.

On the news front, multiple investment banks raised their price targets on the stock. Macquarie lifted its target from $30 to $35 while maintaining an Outperform rating, and Piper Sandler raised its target to $25. The consensus mean price target now stands at $32.98 according to analysts polled by FactSet.

The upgrades follow the company's announcement on August 11 of a 20-year, 191-megawatt data center lease agreement with Anthropic, projected to generate up to $9.1 billion in total revenue. The deal marks Riot Platforms' formal entry into the AI-driven data center market, a strategic pivot previously urged by activist investor Starboard Value, which had identified the company's Corsicana and Rockdale facilities as top-tier AI/HPC hosting sites. While Q2 EPS of -$0.68 significantly missed the -$0.28 consensus estimate, revenue of $174.2 million beat expectations, and market attention has shifted decisively toward the long-term revenue outlook from the AI transformation.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)