Riot Platforms Inc. (NASDAQ:RIOT) saw a 16.11% increase in stock price after securing a data center lease and services agreement with AMD. The deal could bring in up to $1 billion in revenue over 10 years. Riot Platforms began retrofitting a building for AMD, with completion expected by May 2026.

AMD also has the option to extend its lease for an additional 15 years, bringing the total potential revenue to $1 billion. Riot Platforms Inc. (NASDAQ:RIOT) acquired 200 acres in Texas for $96 million, providing long-term stability for developing more data centers. The company aims to provide more services for its customers in the area.

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Read more at Yahoo Finance: Riot Platforms (RIOT) Climbs 16% on AMD Data Center Lease Deal