Tuesday’s Stock Market Winners and Losers: Riot Platforms (RIOT) Soars on Anthropic Partnership

Key Highlights

• Riot Platforms rallied 19% following announcement of a two-decade, $9.1B data center agreement with Anthropic
• Babcock & Wilcox soared 41% after delivering impressive Q2 results and increasing profit guidance on AI infrastructure demand
• Plug Power advanced 8% on better-than-expected Q2 performance and upgraded 2026 revenue projections
• Rocket Lab declined 9% despite achieving record quarterly revenue, with investors concerned about margin compression
• Intel dropped following disclosure of a $20B equity raise aimed at financing AI manufacturing capabilities

Tuesday’s trading session delivered significant volatility in both directions as market participants awaited critical U.S. inflation reports while monitoring geopolitical tensions surrounding the Strait of Hormuz trade corridor.

Riot Platforms emerged as the session’s top performer, rallying 19%. The cryptocurrency mining company unveiled a 20-year agreement to lease 191 megawatts of data center capacity to Anthropic. Management projects the arrangement will deliver $9.1 billion in baseline revenue extending through June 2048, with potential renewal clauses that could escalate total contract value to $16.1 billion.

Riot Platforms, Inc., RIOT

Riot simultaneously disclosed Q2 revenue totaling $174.2 million, representing 14% year-over-year expansion and surpassing the Street’s $150.9 million projection. Data center operations contributed $23.2 million during just their second quarter of commercial activity.

Babcock & Wilcox surged 41% after delivering quarterly results that exceeded analyst projections and lifting its annual profitability forecast. The industrial equipment manufacturer attributed strength to accelerating electricity requirements from artificial intelligence computing facilities.

Order intake climbed 38% to reach $151 million, while the company’s committed project pipeline exploded 533% to $2.6 billion. Management now anticipates full-year adjusted EBITDA ranging from $80 million to $105 million.

Plug Power advanced 8% following quarterly disclosure that surpassed market forecasts. Gross profitability improved dramatically to approximately break-even levels, a substantial upgrade from the negative 31% margin posted in the prior-year period.

Operating expenditures contracted by roughly half compared to the year-ago quarter. Plug Power elevated its 2026 revenue growth expectations to 15% to 16% and reaffirmed its trajectory toward achieving positive EBITDA during Q4 2026.

Rocket Lab, Intel, and Upwork Lead Tuesday’s Declining Stocks

Rocket Lab retreated 9% notwithstanding record Q2 revenue of $234.1 million, representing 62% annual growth. Market attention concentrated on deteriorating margin projections for Q3, with GAAP gross margin anticipated between 29% and 31%, contrasting with the 36% achieved in Q2.

Adjusted EBITDA for the upcoming quarter is projected to stay in negative territory. The company’s Neutron launch vehicle development program continues targeting launch infrastructure completion during Q4 2026.

Intel declined after disclosing plans to execute a $20 billion equity raise, expanding from a previously contemplated $15 billion offering. The semiconductor manufacturer indicated it will place 210.5 million shares priced at $95 each to finance manufacturing infrastructure expansion supporting artificial intelligence processor demand.

AST SpaceMobile slipped 2.2% after posting an expanded second-quarter deficit alongside revenue figures that trailed analyst expectations.

On Holding retreated 15% following the Swiss athletic footwear brand’s issuance of full-year sales projections that disappointed Wall Street forecasts.

Upwork plummeted 20% after delivering subdued Q3 and full-year outlook. The freelance marketplace platform now anticipates full-year 2026 revenue between $730 million and $750 million, trailing the $776 million consensus projection.

Hims & Hers Health fell 6.3% after revealing a larger-than-anticipated Q2 loss, which overshadowed management’s decision to raise full-year guidance.

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