10 AI News You Should Not Miss

7. Riot Platforms, Inc. (NASDAQ:RIOT)

Number of Hedge Fund Holders: 19

Riot Platforms, Inc. (NASDAQ:RIOT) focuses on Bitcoin infrastructure while also exploring potential opportunities in AI.

Piper Sandler reaffirmed its Overweight rating on Riot Platforms with a $23 price target. The firm highlighted Riot’s evaluation of using 600 MW of uninstalled capacity at its Corsicana site for AI and high-performance computing (HPC) tenants, which could significantly boost earnings. Riot recently announced a formal feasibility process for this opportunity, following a management shift toward AI/HPC projects and a significant position taken by an activist investor. Piper Sandler estimates the site could add approximately $6.73 per share in value.