Key Stats for Riot Platforms Stock
- Price change for Riot Platforms stock in last 5 days: -12%
- $RIOT Stock Price as of Aug. 18: $19
- 52-Week High: $30
- $RIOT Stock Price Target: $32
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What Happened?
Riot Platforms (RIOT) stock is getting fresh attention after JPMorgan raised its price target to $22 from $20 and kept its Overweight rating in place.
The bank pointed to the company “building momentum,” specifically citing the recently signed lease with AI company Anthropic, which it described as having “attractive economics.”
That new target implies almost 16% upside from today’s closing price, giving investors a fresh reason to watch Riot Platforms stock closely this week.
JPMorgan also flagged how Riot is handling its existing lease with AMD. The bank noted that Phase 2 of that lease, 20 megawatts of IT capacity, was delivered in May, bringing total AMD capacity online to 25 megawatts.
Phase 3, covering 10 megawatts, and Phase 4, covering 15 megawatts, remain on track for November 2026 and May 2027, respectively.
JPMorgan isn’t the only firm turning more bullish. On August 13, Morgan Stanley raised its own price target on Riot Platforms stock even more aggressively, moving it to $43 from $36 while also maintaining an Overweight rating. That figure sits more than 100% above where the stock recently traded, though price targets are estimates, not guarantees.
Much of this renewed optimism traces back to August 11, when Riot announced a $9 billion, 20-year compute agreement with Anthropic. The deal leases 191 megawatts of capacity at Riot’s Rockdale, Texas campus, giving Anthropic access to scarce, grid-connected power at a time when demand for AI computing keeps climbing.
The agreement is expected to generate $9.1 billion in revenue over its initial term, a figure that could rise to roughly $16.1 billion if two five-year extension options are exercised later.
Combined with the existing AMD lease, Riot now runs a two-tenant campus carrying $9.8 billion in contracted data center revenue, a notable shift for a company that started out purely as a bitcoin miner.
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What the Market Is Telling Us About Riot Platforms Stock
The back-to-back price target increases from JPMorgan and Morgan Stanley suggest Wall Street sees Riot’s pivot toward AI infrastructure as more than just a headline.
Riot Platforms stock is increasingly being valued less like a pure bitcoin miner and more like a landlord for critical AI computing power.
With both banks maintaining Overweight ratings and pointing to steady execution on the AMD lease alongside the new Anthropic agreement, the market reaction points to growing confidence that Riot Platforms stock has a credible, contracted revenue stream backing its next phase of growth.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
