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Analyst predicts 55% rally for surging stock on $9B Anthropic deal
['Anand Sinha', 'Tue', 'August', 'At Pm Gmt', 'Min Read']
Yahoo Finance
Riot announced the data center lease with Anthropic for 191 MW of critical IT capacity at its Rockdale campus.
In January, Riot also signed a lease with another AI giant, Advanced Micro Devices, for its Rockdale facility.
Trending on TheStreet Roundtable:Needham raises Riot stock's price target on Anthropic dealNeedham raised its price target on the Riot stock from $28.50 to $30 on Aug. 10.
The firm cited the 191-MW lease agreement Riot signed with Anthropic for its decision to hike the price target.
As the Riot stock closed at $19.40 on Aug. 10, Needham's price target of $30 represents an upside of 54.6%.