Top 10 AI News Updates Analysts are Monitoring

5. Riot Platforms Inc. (NASDAQ:RIOT)

Number of Hedge Fund Holders: 37

Riot Platforms Inc. (NASDAQ:RIOT) is a company that mines Bitcoin and develops digital infrastructure. Its goal is to become the world’s leading Bitcoin-driven infrastructure platform. Additionally, the company is exploring artificial intelligence and high-performance computing (HPC) to diversify and strengthen its revenue streams.

Riot Platforms Inc. (NASDAQ:RIOT) delivered impressive fourth quarter and full year 2024 results characterized by record revenue of $376.7 million on February 24. Riot Platforms also delivered a net income of $109.4 million as it benefited from an increase in the global hash rate of 67%. Riot has already engaged financial advisors as it looks to pursue growth opportunities around AI and HPC while leveraging power assets at the Corsicana facility.

“Due to our efforts over the prior year, we are in an exceptionally strong position and focused on executing on the exciting opportunities ahead of us to maximize shareholder value, particularly on the AI/HPC front,” said Jason Les, CEO of Riot.