RIOT Stock Reiterated to Outperform With 1.7 GW Data Center Pipeline and AI Focus

Riot Platforms Inc. (NASDAQ:RIOT) ranks among the 30 stocks expected to beat the market by 20 percentage points this year. With a $15 price target, Northland analysts reiterated their Outperform rating for Riot Platforms Inc. (NASDAQ:RIOT) on June 3. This choice follows the company’s strategic appointment of Gibbs as Chief Data Center Officer.

RIOT Stock Reiterated to Outperform With 1.7 GW Data Center Pipeline and AI Focus

Riot Platforms’ first-quarter 2025 call emphasized the company’s focus on building and leasing an AI/HPC data center. The company hopes to take advantage of the rising demand for hyperscaler services, which has been bolstered by robust revenue growth of 60% over the past 12 months. By hiring Gibbs, who has more than 15 years of experience in designing and constructing data centers, Riot hopes to attract top-tier tenants with advantageous lease terms.

With a pipeline of more than 1.7 GW of power close to major markets, the company is well-positioned to grow. Riot Platforms Inc. (NASDAQ:RIOT) was also expected to complete the purchase of a further 355 acres near Corsicana in May. This would enable flexible HPC architecture and may make use of all ~1 GW of available power.

Riot Platforms Inc. (NASDAQ:RIOT) is a digital infrastructure and Bitcoin mining company. In addition to electrical switchgear engineering and manufacturing facilities in Denver, it runs Bitcoin mining operations in Kentucky and central Texas.

While we acknowledge the potential of RIOT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

Disclosure: None.