Is Riot Platforms (RIOT) the Best Aschenbrenner Stock To Buy?

Riot Platforms, Inc. (NASDAQ:RIOT) is one of the 10 Best Stocks in Leopold Aschenbrenner’s Portfolio.

Is Riot Platforms (RIOT) the Best Aschenbrenner Stock To Buy?

Jefferies initiated coverage of Riot Platforms, Inc. (NASDAQ:RIOT), on May 14, 2026, with a Hold rating and a price target of $24 on the stock. The inclusion was part of Jefferies’ coverage initiated on four AI data center developers with legacy Bitcoin mining roots. While demand remains high, analysts note power availability as the “binding constraint,” making tenant credit, location, and execution crucial differentiators. For issuing a Hold rating on the company, Jefferies cited a lack of major deals, even though it possesses an attractive geographic footprint.

Prior to this, on May 6, 2026, Riot Platforms (RIOT) signed a memorandum of understanding with Terrestrial Energy (IMSR) to develop large-scale, nuclear-powered data centers for AI and high-performance computing. Through the partnership, the company seeks to deploy multiple 390 MW Integral Molten Salt Reactor (IMSR) plants, targeting up to 4 GW of clean capacity. Natural gas may serve as a bridge fuel to accelerate commercial operations and optimize power grid resilience.

Founded in 2000, Riot Platforms, Inc. (NASDAQ:RIOT) is a leader in digital infrastructure and digital asset mining. Headquartered in Colorado, the company operates some of the largest large-scale data centers and Bitcoin mining facilities in North America, with core operations anchored in central Texas and Kentucky.

While we acknowledge the risk and potential of RIOT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RIOT and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: Top 10 Stocks That Will Profit from AI and 10 Best Battery Technology Stocks to Buy Now

Disclosure: None.  Follow Insider Monkey on Google News.

1281292 - 11759070 - 1