Anthropic and Riot Platforms reach $9.1 billion computing power agreement

According to Bloomberg, Anthropic has reached a $9.1 billion AI computing power agreement with Riot Platforms, which will provide 191MW of computing power at its Rockdale campus in Texas for a contract period of 20 years. Riot Platforms expects the contract to generate $9.1 billion in revenue, and if the extension option is exercised, the total revenue could reach up to $16.1 billion. After the announcement, Riot Platforms' stock price rose 25% to $24.40 in after hours trading. Anthropic previously signed a $9.1 million contract with Volta Infra Holdings and agreed in May to purchase $4.5 million in computing power from xAI. Riot Platforms is shifting towards AI and cloud computing infrastructure businesses and has reached a computing power construction agreement with AMD.