StocksMediumUpdated•Originally published 4 November 2026•Updated 4 November 2026•
1 min read
Riot Platforms Jumps 21% on Q3 Earnings Beat and Landmark AI Deal
Key Facts
1Riot Platforms shares rose 20% following the announcement of a 15-year lease for its Corsicana, Texas campus.
2The lease with a leading frontier AI lab carries a total contract value of approximately $28 billion and covers 910 megawatts of IT capacity.
Riot Platforms shares rose 21% in premarket trading after the company's third-quarter revenue exceeded analyst expectations. The financial beat coincided with the announcement of a 15-year lease agreement at its Corsicana, Texas campus to provide computing capacity for artificial intelligence.
Yahoo Finance reported that the total contract value with a leading frontier AI lab is approximately $28 billion, covering 910 megawatts of capacity. Riot Platforms closed at $14.02 on November 3, 2026, while peer Cipher Mining Inc closed at $8.12 on the same date, as the company pivots toward AI infrastructure to diversify revenue.