New York, January 16, 2026, 16:16 EST — After-hours
Advanced Micro Devices ended regular trading up 1.7% on Friday at $231.84. Traders also digested word from Riot Platforms that it has signed a 10-year data-center lease and services agreement with AMD expected to generate $311 million in contract revenue, with extensions that could take the total to about $1 billion. (Yahoo Finance)
The tie-up lands at a time when investors are treating data-center capacity as a scarce resource, not a boring utility. It puts another spotlight on how chipmakers support AI workloads beyond selling processors.
Semiconductor names have had a lift since Taiwan Semiconductor Manufacturing Co, a key supplier to AMD, forecast 2026 revenue growth of nearly 30% and raised planned capital spending — money for factories and equipment — to $52 billion-$56 billion. “TSMC ultimately benefits as the key manufacturer of all their chips,” said Ben Barringer, head of technology research at Quilter Cheviot. (Reuters)
Riot said AMD will lease 25 megawatts of “critical IT load” at its Rockdale site in Texas — essentially the power that can be used by servers and networking gear. The lease includes options for an additional 75 MW and a right of first refusal for another 100 MW, taking the total potential to 200 MW. Riot said it expects to deliver the first phase in January and complete the retrofit by May. (Riot Platforms)
“At AMD, advancing high-performance computing and AI requires partners that can match our pace and scale,” said Hasmukh Ranjan, AMD’s chief information officer. Riot CEO Jason Les called the deal “a validation of Riot’s infrastructure and our readily available power capacity.” (GlobeNewswire)
Riot shares jumped about 12% after the announcement, far outpacing AMD’s gain. (Barron’s)
Chip stocks broadly held up on Friday, with the Philadelphia SE Semiconductor index up 1.1%. Nvidia slipped 0.3% while Intel fell 2.4%; the iShares Semiconductor ETF rose 1.6% and VanEck’s semiconductor fund gained about 1%. U.S. markets are closed on Monday for the Martin Luther King Jr. holiday. (Reuters)
The Riot project still needs equipment, retrofits and a smooth handoff, and any delays would push the timetable — and the story — out. More broadly, chip stocks have been quick to reprice when AI spending plans wobble.
Next up for AMD is its fiscal fourth-quarter and full-year report on Feb. 3, due after the market close, when investors will look for updates on data-center demand and AI deployments. The next major catalyst is AMD’s results on Feb. 3. (Amd)
