AMD Runway and Google lead AI news

Key Takeaways

• Riot Platforms pivots from Bitcoin mining to AI data centers with long term infrastructure deals
• Riot stock trades at 7.8x sales, double the software industry average of 3.8x
• Riot signed a 20 year lease for 191 MW and expanded an AMD agreement covering 50 MW
• Combined contracts could support US$9.8b in data center revenue over time
• Riot has less than one year of cash runway and depends on a US$573m interim facility
• Google launched TorchTPU to reduce Nvidia's advantage in AI computing
• Google worked with Meta, Hugging Face and other developers to ensure TorchTPU compatibility
• SpaceX says capital expenditures could double this quarter as AI spending grows
• Ultra Security raised $10M in seed funding for AI powered cyber defense
• Jio Platforms' IPO focuses on AI, cloud and 7,220 patent applications

Riot Platforms stock may be overvalued amid AI data center shift

Riot Platforms is shifting from Bitcoin mining toward AI and high performance computing data centers. Its stock trades at about 7.8x sales, roughly double the software industry average of 3.8x. The Fair Ratio model suggests the shares are overvalued at current levels. Riot also moved Bitcoin custody to BitGo Bank & Trust. Long term investors are questioning whether the valuation is supported by sales.

AI data center leases reshape the case for Riot Platforms stock

Riot Platforms is pivoting from Bitcoin mining into AI data centers through long term infrastructure deals. These include a 20 year lease for 191 MW to a frontier AI lab and an expanded AMD agreement covering 50 MW. Together these contracts could support about US$9.8b in data center revenue over time. Riot expects an EPS loss of about US$0.33 this quarter. The company has less than one year of cash runway and depends on a US$573m interim facility.

Peter Law Group creates AI focused legal practice

Peter Law Group announced a new Artificial Intelligence Specialty Practice on October 21, 2026. The firm will address AI related legal issues in entertainment, employment, intellectual property, privacy and commercial relationships. It will advise clients on generative AI use, corporate AI governance, deepfakes, digital replicas and workplace AI. Founding partner Arnold P. Peter said the goal is a client centered approach to growing AI related legal concerns.

Peter Law Group expands into AI and emerging technology law

Peter Law Group launched an Artificial Intelligence & Emerging Technology Practice in Southern California. The practice combines labor law, intellectual property, digital identity, entertainment and litigation expertise. It will handle AI governance, IP ownership, workplace automation, privacy, biometric information and digital replicas. The firm previously filed a 2026 federal lawsuit on behalf of actress Q'orianka Kilcher over alleged unauthorized use of her image in Avatar franchise films.

SpaceX increases AI spending significantly

SpaceX says its capital expenditures could double this quarter as AI spending grows. The company is dedicating more resources to artificial intelligence initiatives. The announcement came in its third quarter earnings update for 2026. SpaceX facilities include locations in Hawthorne, California. Specific details about which AI projects are funded were not provided in the report.

Google launches TorchTPU to challenge Nvidia's AI dominance

Google released TorchTPU, a specialized version of the PyTorch framework designed to reduce Nvidia's advantage in AI computing. The tool aims to make it easier for developers to move away from Nvidia's GPUs. Google worked with Meta, Hugging Face and other developers to ensure compatibility. A new tool called was also revealed to help developers switch platforms.

AI hardware shortage slows Philippines adoption plans

Rising costs for computers, servers and memory chips are threatening the Philippines push to adopt AI. Laptop prices jumped from around P50,000 to over P80,000 while server costs rose up to 300% in the past year. Global PC shipments fell 4.9% in the second quarter of 2026 due to memory shortages. The crunch could delay AI projects and widen the digital divide for smaller businesses.

Brokers ready AI computing futures as CFTC closes comments

Futures brokers are preparing contracts for renting AI computing power even though no US exchange is approved to list them yet. The Commodity Futures Trading Commission closed its public consultation on the products. BGC Group, ADM Investor Services and Nanhua USA are among firms getting ready. CME Group had planned to list contracts in October but the start date was delayed. Exchanges including ICE and Nodal Exchange are also competing to set benchmarks.

Meta AI spending worries investors like financial crisis era

Meta's large AI spending has investors nervous as the company prepares for earnings. Hyperscalers once drove stock rallies with big investment plans but billions in debt changed that mood. Investors are now considering default protection strategies. Meta's spending spree reflects the broader financial-crisis style concerns in the AI industry.

Jio IPO highlights AI cloud and 7220 patents

Jio Platforms ₹30,213 crore IPO focuses on AI, cloud and 7,220 patent applications as its tech future. Reliance Jio Infocomm generates 87.74% of Jio Platforms revenue and 94.88% of EBITDA. The company is building digital services including JioBrain for AI and enterprise applications. Jio is partnering with Google and Meta on AI products and exploring satellite connectivity and 6G. About 45% of Jio's workforce works on digital products and technology development.

Ultra Security raises $10M to power real time AI cyber defense

Ultra Security has raised $10 million in seed funding to develop its AI powered security platform. The startup emerged from stealth mode and uses machine learning to analyze network traffic for potential threats. Its platform detects cyber attacks that traditional security systems may miss. The company plans to expand its team and serve businesses of all sizes. The funding was led by investors from the US and Europe.

MAFF official leads AI training to boost work efficiency

Ministry of Agriculture, Forestry and Fisheries Permanent Secretary of State Im Sithol presided over an AI capacity training session. The training was held at the ministry headquarters and aimed to improve operational efficiency using artificial intelligence. Officials learned about digital technology and how to align their skills with modern public administration needs. Representatives from the Ministry of Post and Telecommunications and the Cambodia Academy of Digital Technology supported the course. The session supports broader digital government transformation goals.

Sources

• Riot Platforms (RIOT) Stock Could Be Overvalued On Its AI Data Center Shift
• Does AI Data Center Leases Change The Bull Case For Riot Platforms (RIOT)?
• Peter Law Group Establishes Artificial Intelligence Specialty Practice
• Peter Law Group Launches Artificial Intelligence and Emerging Technology Practice
• SpaceX is spending more than ever on AI
• Google unveils TorchTPU in a push to break Nvidia's stranglehold on AI compute
• AI hardware crunch threatens to derail PH's push for wider AI adoption
• Brokers Prepare for AI Computing Futures as US Regulator Closes Comment Window
• Meta’s AI spending spree has investors taking a page from the financial-crisis playbook
• Jio IPO beyond telecom: Why the Ambanis are pitching AI, cloud and 7,220 patents as Jio’s tech future
• Dealroom.co | Ultra Security exits stealth with $10M to police AI agents in real time
• MAFF Permanent Secretary of State Im Sithol presides over AI capacity training