Aug 11, 2026 · 6 min
Riot’s AI pivot lifts shares as Hims and On face pressure
Hims & Hers Health Falls, On Holding Tumbles, Riot Platform Rises on Anthropic Deal
The episode shows how sharply different growth stories—from peptide treatments to AI infrastructure—are reshaping investor expectations.
- 1Hims & Hers is preparing to enter the peptide market after reporting a second-quarter loss.
- 2On Holding resisted discounting premium running shoes as weaker-than-expected sales pressured its stock.
- 3Riot Platforms rose after pivoting from cryptocurrency toward AI data centers through a major Anthropic deal.
Don't miss
Riot Platforms’ stock rises after the cryptocurrency-focused company pivots toward AI data centers and lands a $9.1 billion Anthropic deal.
The brief
The report compares three sharply different market reactions: Hims & Hers is moving toward peptides, On Holding is protecting premium pricing, and Riot is pivoting toward AI infrastructure.
Emily Graffeo joins the discussion of Hims & Hers’ second-quarter loss and its planned entry into the peptide therapeutics market, where demand has made the category increasingly important.
On Holding’s stock fell after sales came in below expectations, while the company chose not to discount its premium running shoes—a bet on brand strength over near-term volume.
Riot Platforms delivered the episode’s clearest reversal: a company associated with cryptocurrency mining rose after shifting toward AI data centers and securing a $9.1 billion deal with Anthropic.
Taken together, the moves show investors rewarding credible AI infrastructure growth while scrutinizing consumer-facing companies’ pricing power and expansion plans.
What was said on this episode
3 statements · 2 positive · 1 negative
Hims & Hers will enter the peptides market before year-end.
“It's going to enter the peptides market before the end of the year.”
Listen at 1:30
Some peptides lack substantial clinical evidence.
“There isn't a lot of clinical evidence for some of them.”
Listen at 1:51
Riot Platforms has begun selling data-center capacity as part of its crypto-to-AI pivot.
“this is a bitcoin mining company that has recently sort of started to sell a data center capacity.”
Listen at 3:54
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
Featuring
Mentioned
Hims & Hers Health
AI data centers
Peptide Therapeutics Market
Artificial IntelligenceListen to the full episode and explore every guest, topic, and moment on PodLume.