Riot Platforms' AI pivot and data center ambitions boost stock 7.2% despite bearish bets

Riot Platforms (RIOT) has risen 7.2% amid bearish bets and hopes for its pivot into artificial intelligence and high-performance computing data centers. The company's AI ambitions may reshape its investment narrative, but the key near-term catalyst is signing additional data center tenants, while the biggest risk is Bitcoin price swings and mining losses. Investors should be aware of concentrated Texas operations and rising costs.